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Brokerage
Posted: April 27, 2018
Royal Properties brokers 1,652 s/f lease to Great Clips
Derby, CT According to Royal Properties, Inc., Great Clips signed a five-year lease for 1,652 s/f at ShopRite Shopping Center, 49 Pershing Dr.
ShopRite Shopping Center is a 124,287 s/f shopping center with plyon signage and plenty of on-site parking. This center is anchored by ShopRite, which is the #1 supermarket in the area and draws over 35,000 customers per week.
Great Clips joined co-tenants such as: Verizon Wireless Zone, Petland Discounts, Dr. Dental, Sally Beauty, Advance Auto, Angel Tips and more. Neighboring retailers include Home Depot, Stop & Shop, Burger King, Dunkin’ Donuts, KFC, Jersey Mike’s, Target, Bob’s Stores and many more. There is currently 4,000 - 21,100 s/f available for lease. Jeff Kintzer of Royal Properties, Inc. represented the landlord in this transation. Steve Patten of Proto Group represented the tenant.
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Hines of Horvath & Tremblay completes the sale of 200 multi-family units in Connecticut for $16.24 million
Norwich, CT Tim Hines of Horvath & Tremblay has facilitated the sale of 200 multi-family units totaling $16.24 million. Hines arranged the sale of an 83 unit multi-family portfolio in Cromwell, Middletown and Norwich, Conn. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9 million.
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
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.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
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.
