Richetelli and Messore of Colonial Properties lease 5,000 s/f: to Prime 16 Tap House & Burgers at 464 Boston Post Road
According to Michael Richetelli, president of Colonial Properties Inc., a lease has been negotiated with PRIME 16 Tap House & Burgers at 464 Boston Post Rd. The 5,000 s/f space was originally occupied by Jacob Marley's Restaurant and was most recently Mark Barry's. Richetelli and Fred Messore, senior vice president of Colonial Properties were the sole brokers in the transaction and represented the landlord - Leveraged Equities, LTD.
This will be the 2nd PRIME 16 location. Bob Potter, owner of PRIME 16 in New Haven is an experienced restaurateur. He is partnering with Jon Bara, who has a corporate restaurant background.
The restaurant is being completely renovated and is expected to open by May 1st.
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
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.