Royal Properties brokers two deals totaling 2,725 s/f in Newington
Royal Properties, Inc. has leased two spaces in Jo-Ann's Plaza at 3065-3105 Berlin Tpke.
Kiwi Spoon Frozen Yogurt has signed a 5-year lease for 1,225 s/f facing the Berlin Turnpike. Kiwi Spoon first opened in Wallingford in the summer of 2011, and added two more locations in Southington and Rocky Hill soon after. Their self-service frozen yogurt shop was created with the vision of helping people achieve a healthier lifestyle without sacrificing flavor or fun.
Galaxy Nails has signed a 10-year lease for 1,500 s/f between Planet Fitness and Dollar Tree. New to Connecticut, they are bringing their California expertise to the market.
Jo-Ann's Plaza is a 150,000 s/f center located at a signaled intersection. Co-tenants include Jo-Ann's, Big Lots, Modell's TGI Friday's, GNC, Dollar Tree, T-Mobile, FedEx Office, Planet Fitness and many more.
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.
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.