News:
Brokerage
Posted: June 26, 2014
Saugatuck Commercial Real Estate brokers $10 million sale of 20,000 s/f retail center
Penny Wickey and Daniel Neaton of Saugatuck Commercial Real Estate (SCRE) of Westport, CT recently represented Golden Crest Motel Corporation in the sale of their 20,000 s/f retail center located at 596 Westport Ave.
The property is just over 1.6 acres and is adjacent to the Whole Foods shopping center on Rte. 1, Westport. The center is 100% leased to retail tenants including FedEx Office, Panera Bread, SuperCuts/Regis, Hudson City Savings Bank and the Red Cross. The property was purchased by Westport Ave Partners LLC for over $10 million. SCRE was the sole broker involved in this transaction.
MORE FROM Brokerage
Goldberg of Spire Investments purchases Beverly portfolio for $9.2m
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.
Quick Hits
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.