RHYS Commercial completes 16th lease on behalf of Pet Valu
RHYS Commercial, a full-service commercial real estate firm, has signed its 16th lease on behalf of Pet Valu, a specialty retailer that sells high-quality pet supplies, with an additional six locations in progress including four in Rhode Island.
RHYS partner and head of retail leasing, Jason Wuchiski, and vice president Tyler Lyman, have been working to introduce Pet Valu into new U.S. markets since March 2013. RHYS is currently looking to secure new Pet Valu locations in Connecticut, Rhode Island and Westchester, Rockland, Orange, Putnam and Dutchess counties in New York and will serve as the retailer's exclusive broker moving forward.
"Our team at RHYS has worked diligently with Pet Valu from beginning to end to open each new location," said Wuchiski. "We provide a comprehensive service - from researching markets, presenting a development plan and executing leases - in order to secure the best possible sites for this brand."
Pet Valu opened its first Connecticut store on April 16, 2013 at Copps Hill Plaza on Danbury Rd. in Ridgefield and the organization currently holds leases in Stamford, Norwalk, Trumbull, Old Saybrook, Vernon, Darien, Guilford, Newington, Southbury, Cromwell, West Harford, Avon and Rye Ridge, N.Y.
Chelsea, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 15 units for $3.55 million. 827-835 Broadway, which is a value-add type asset, is situated in a high-density, urban-infill neighborhood.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.