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Monitoring the market, making the right decision at the right time - by Thomas Sweeney
July 28, 2023
When you are sick your body fights infection by stimulating your immune system via a fever. Similarly, to the body’s response to sickness, the commercial real estate market likely will worsen over the next 12 months before leveling out. This will be concentrated
Nogueira, CEO of East Cambridge Savings Bank, receives MBA Lifetime Achievement Award
July 28, 2023
Cambridge, MA According to East Cambridge Savings Bank, their CEO, Gilda Nogueira, received the Massachusetts Bankers Association (MBA) Lifetime Achievement Award. The award was presented at the association’s annual Women and Allies in Banking Conference.
Rhode Island industrial market report - by Julie Freshman, George Paskalis, and Mike Giuttari
July 28, 2023
The Rhode Island industrial market continues to follow the national trend, with low vacancy rents, strong demand and rising rates. Vacancy rates for industrial space in Rhode Island are very low and in the 1% to 2% range for “modern” single-story industrial buildings,
Fast food, breakfast/lunch, pubs, and sports bars are continuing to be profitable and growing - by D...
July 28, 2023
Due to the current state of our economy, why would anyone want to start or own a small business in our country, let alone the capital-intensive, labor-intensive food & beverage industry?
Will added inventory meet user needs? - by Kristie Russell
July 28, 2023
At the halfway mark of 2023, the commercial real estate market is very active, with companies renewing, expanding, and others entering the market. Deals are occurring in the office market, with many companies renewing leases and some companies expanding in the market. There
Hunneman completes sale and full building lease of 530 Turnpike St.
July 28, 2023
Easton, MA Hunneman completed the sale of 530 Turnpike St. to Rhino Capital Advisors LLC, and the long-term lease of a new construction warehouse facility to Beacon Roofing Supply. Sale details were not disclosed. Hunneman’s executive vice presidents Ned Halloran, Leeanne Rizzo, Ken Oppenheim, and assistant vice president Connor Hayes represented the seller, Easton Golf LLC and procured the buyer, Rhino.
Boosting efficiency and accuracy: AI’s role in commercial real estate - by Victor Whitmore
July 28, 2023
The commercial real estate (CRE) sector has long been steeped in tradition, but recent years have witnessed a dramatic shift towards innovative technologies, reshaping the entire CRE ecosystem. Integrating artificial intelligence (AI) into real estate processes is particularly noteworthy, enhancing efficiency and accuracy in remarkable ways.
Workers Credit Union selects Phase Zero Design and Scalora Consulting Group for multiple projects
July 28, 2023
Littleton, MA Workers Credit Union (WCU) has selected Simsbury CT-based Phase Zero Design to be the credit union’s architecture firm and Scalora Consulting Group of Ashland, MA to be project manager for several upcoming projects.
Kelleher and Pentore of Horvath & Tremblay broker $7.2 million sale
July 28, 2023
Cambridge, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of 13 multifamily units at 81-91 Winter St. for $7.2 million and $553,846 per unit. Kelleher and Pentore exclusively represented the seller, Torrington Winter LLC/Winter KRE LLC. Yun Peng of New Century Realty represented the buyer.
The resilience of industrial real estate in the greater Boston marketplace: Optimistic outlook - by ...
July 28, 2023
Overview and Context:The industrial real estate sector in the Greater Boston market has experienced significant growth in recent years, primarily driven by the rise of e-commerce, increased capital availability from pandemic stimulus measures, and historically low interest rates. However, the current
Annual Southern Maine industrial market survey: Statistics show robust market favoring owners - by J...
July 28, 2023
The Greater Portland industrial vacancy rate has remained relatively stable since the last report at the end of last year, with a modest increase of 14 basis points to reach 1.91% as of July 1, 2023. The Dunham Group is pleased to present our mid-year update on the annual
Company of the Month: Wayne J. Griffin Electric, Inc.:
45 years of building a legacy together
July 28, 2023
Holliston, MA In July of 1978, Wayne Griffin opened the doors to his own electrical subcontracting business in Holliston. Fast forward 45 years and Wayne J. Griffin Electric, Inc. (Griffin Electric) has evolved from modest beginnings into one of the top electrical firms in the country.
The cost of risk in a changing market - Spencer Macalaster
July 28, 2023
The last couple of years was defined by an unprecedented number of varied natural catastrophes, political and social unrest, COVID-19 variant concerns, supply chain crisis and surging ransomware attacks. As we enter the second quarter of 2023 and look to the future, the cost of risk in
Risk and opportunity - by David Skinner
July 28, 2023
It’s the summer time in something that feels like a recession. But let’s not be alarmist, so we’ll just say that it feels like a recession. What is the point of sharing anything with the New England Real Estate Journal community if we don’t help
Drinkwater, Richard and Pierce of Marcus & Millichap handle $21.5m sale of Legacy Place Apartments
July 28, 2023
Lawrence, MA Marcus & Millichap completed the sale of Legacy Place Apartments, a 104-unit apartment property. The asset sold for $21.5 million. Laurie Ann Drinkwater, CCIM, Seth Richard, and Matthew Pierce, investment specialists in Marcus & Millichap’s Boston and Manhattan offices, had the exclusive listing to market the property on behalf of the seller and secured the regional buyer.
Is it the weather or the economy? - by Earle Wason
July 28, 2023
The first paragraph in writing my 2023 preview in January 2023 is as follows: “Looking back at the year 2022, again my firm, Wason Associates, had one of our best years in hotel brokerage transactions and dollar volume. As we head into the new year, we have some really exceptional hotel properties under agreement to close in the next few months. However, to be truthful it feels a little different
DiPrete Engineering promotes Carr, Burnett and Guglielmo to principals
July 28, 2023
Cranston, RI DiPrete Engineering has promoted Brandon Carr, PE, LEED AP, Gregg Burnett and Sheryl Guglielmo to principals at the firm. Carr has been an integral part of the DiPrete team for 15 years and has played a significant role in client development and project success. In his new role, Brandon will be responsible for helping to shape the overall direction of the firm to bring greater value to their clients and team members.
Suffolk Technologies closes $110 million inaugural venture capital fund
July 28, 2023
Boston, MA Suffolk Technologies, an institutional venture capital firm affiliated with Suffolk, has closed its inaugural fund with $110 million in commitments. Suffolk Technologies Fund I (The Fund) will invest in early-to-growth stage companies across construction technology (ConTech) and property technology (PropTech) that are creating solutions for safer
Everest of Nordlund Associates negotiates $4.6m sale of 226 Andover St. - sold to Andover St Realty ...
July 28, 2023
Wilmington, MA Chris Everest of Nordlund Associates Inc. negotiated the sale of 226 Andover St., a 20,704 s/f industrial / flex building. The property sold for $4.6 million. The buyer was Andover St Realty Holdings LLC and the seller was 226 Andover Street LLC. Nordlund Associates was the sole broker.
Liddy of Kelleher & Sadowsky arranges $13.5 million
refinancing on behalf of Rabina
July 28, 2023
Auburn, MA Meghan Liddy, senior vice president of capital markets at Kelleher & Sadowsky Associates has arranged refinancing of the industrial distribution property at 26 Millbury St. in the amount of $13.5 million on behalf of Rabina. 26 Millbury St. is a 210,000 s/f industrial distribution building that is fully occupied by HD Supply Facilities Maintenance, Ltd., a wholly owned subsidiary of The Home Depot.