Royal Properties leases 4,400 s/f to Panera Bread in Norwalk
According to Royal Properties, Inc., Panera Bread has leased 4,400 s/f at The Wal-Mart Center located at 652 Main Ave.
This center is anchored with a 120,000 s/f Wal-Mart. Other tenants include Staples, Aspen Dental, Elmer's Wines & Spirits, Vision World and Bank of America.
"Panera Bread is a welcomed addition to Rte. 7 and the Wal-Mart Center. There is enormous visibility here with a traffic count of 32,963 cars per day," said Jeff Kintzer, principal of Royal Properties who along with Craig Benson represented the landlord in this transaction. Jason Wuchiski of RHYS Commercial Real Estate represented the tenant.
Royal Properties, Inc. is a retail brokerage and consulting company specializing in the placement of retailers throughout New York, New Jersey and Connecticut.
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.