RHYS Commercial, a full-service commercial real estate firm, has recently signed its sixteenth lease on behalf of Pet Valu, a specialty retailer that sells pet supplies. Leases at an additional six locations are 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 of 2013. RHYS is currently looking to secure new Pet Valu locations in Conn., R.I. and Westchester, Rockland, Orange, Putnam and Dutchess counties in N.Y.
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
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.