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.
West Roxbury, MA Prescott IOS has arranged an industrial outdoor storage lease for Eastern Bus Company at 151 Rivermoor St. David Skinner and Devon Wagner of Prescott IOS represented the tenant, while Caroline Munn nd Rob Byrne of CBRE represented the landlord, Feeney Brothers Real Estate. The 40,000 front foot site gives the bus operator secured yard space close to the routes it serves across Boston and the inner suburbs.
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.
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.