Adria Savarese of J.P. Morgan Asset Management, is the recipient of the Fiala Fellowship for 2012, awarded by the International Council of Shopping Centers (ICSC) Foundation. The award was presented on May 21 in Las Vegas during ICSC's RECon, the global retail real estate convention.
Savarese will devote significant efforts over her one-year fellowship to pursue a project designed to benefit and promote the retail real estate industry. As part of her fellowship she will receive a one-year mentorship with industry leader Liz Holland, chief executive officer, Abbell Associates, an all-expense-paid course of study at the John T. Riordan School of Professional Development, a special invitation to attend RECon, and the honor of participating in a number of speaking engagements at industry events during the award year.
Launched in early 2010, the Fiala Fellowship annually recognizes an outstanding professional under the age of 35 who demonstrates a commitment to retail real estate, and has the potential to make a lasting contribution to the industry. The fellowship was made possible by a gift from Regency Centers to the ICSC Foundation in honor of Mary Lou Fiala. Fiala served as president and COO of Regency Centers Corporation and is a renowned industry expert. At the heart of the program is an appreciation of Fiala's qualities and values.
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.