Royal Props. brokers five deals at ShopRite Plaza totaling 8,361 s/f
The Royal Properties, Inc. leasing team of Jeff Kintzer and David Landes brokered the following lease transactions at ShopRite Plaza.
Village Gourmet has signed a 15-year lease for 1,920 s/f. Village Gourmet currently has three other restaurants throughout Connecticut.
Steve DeMasco's Shaolin Studios has signed a 10-year lease for 980 s/f. SDSS specializes in martial arts. They currently have four other locations throughout Connecticut. Royal Properties is seeking additional sites for SDSS throughout Westchester County, N.Y. and Fairfield County.
GameStop has signed a 5-year lease extension to remain in its current 1,400 s/f space.
Aspen Dental has signed a 3-year lease extension to remain in its current 2,017 s/f space.
Choice Pets has signed a 5-year lease extension to remain in its current 2,044 s/f space.
"This center is anchored with one of the busiest supermarkets in the state of Connecticut," said Kintzer, principal of Royal Properties, Inc. and leasing manager for ShopRite Plaza. "The only remaining vacancy is a 20,000 s/f space that was occupied by Comp USA. We have leased this space to several temporary stores but since ownership has agreed to divide the space there has been considerable interest from several retailers."
Springfield, MA Michael Bradley of Horvath & Tremblay has arranged the sale of the Belmont Portfolio, a six property, 78 unit multi-family portfolio. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9.5 million.
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.