Schimenti Construction adds Havaianas to client roster
Schimenti Construction Company partnered with Brazilian-based Havaianas, a manufacturer and retailer of flip-flops and other footwear, to open a new 780 s/f store at the Garden State Plaza. Among the 22 stores and restaurants that form the Paramus mall's new $160 million Fashion District expansion, Havaianas was one of just twelve to be ready for the addition's grand opening on March 20.
Construction began in late January and was completed by mid-March. David Garofalow was project manager for the new construction.
"This was a large and busy construction area with numerous subcontractors going in and out," said Garofalow. "We worked hard to complete the project quickly and professionally. Originally forecast as an eight-week project, we had the space ready for merchandising in six weeks."
Norwich, CT Tim Hines of Horvath & Tremblay has facilitated the sale of 200 multi-family units totaling $16.24 million. Hines arranged the sale of an 83 unit multi-family portfolio in Cromwell, Middletown and Norwich, Conn. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9 million.
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.