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Boston’s commercial real estate market remains resilient, underpinned by its strong economic funda...
July 28, 2023
Boston’s commercial real estate market has long been a bastion of economic stability, attracting investors and businesses alike with its vibrant landscape and thriving industries. However, the city’s real estate landscape is facing a unique set of challenges.
Ask The Electrician: Fire Alarm Testing - Brian Leborgne
July 28, 2023
Why should I test my building’s fire alarm system?
Staying up to date with today’s fire alarm systems can be challenging, but it is crucial. The typical lifespan for a fire alarm control
Mid-year – Where are we headed now? - by David O'Sullivan
July 28, 2023
It is now the middle of summer and many people’s thoughts are about vacations, family time and enjoying the outdoors. But as business people we still need to keep on task with where trends may be headed in the real estate industry. In fact maybe vacation will be the time we
A summer of some discontent - by Bill Pastuszek
July 28, 2023
As observers of real estate activity, we can get very caught up in the short-term gyrations of markets, all the while knowing that smart investors generally play the long games. The media and related pundits pounce on short-term variations and produce conclusions that may or may not
2023 forecast for 1031 tax-deferred exchanges - by Brendan Greene and Mark McCue
July 28, 2023
Internal Revenue Code (IRC) Section 1031 allows a property owner, who holds property for “the productive use in a trade or business or for investment” to defer paying capital gains taxes if the property owner sells such property, identifies “like kind” property
Conway Development and Palm Coast Capital arrange the development of new Tractor Supply location
July 28, 2023
North Conway, NH Matt Halprin, principal of Conway Development Partners, has arranged for the development of a new Tractor Supply location. The location is at the roundabout off of North South Rd. directly across from the new entrance to Settlers Green Outlets and Market Basket . This will be Tractor Supply’s 21st store in New Hampshire.
MassDevelopment with RCB provides $6.57m loan for mixed-use renovation
July 28, 2023
Lawrence, MA MassDevelopment has partnered with Reading Cooperative Bank (RCB) to provide $6.57 million in loan financing to 115-125 Essex Street LLC, an affiliate of Jowamar Companies, to buy, renovate, and convert two vacant contiguous buildings at 115-123 Essex St. and 125 Essex St. into a new single five-story mixed-use building.
East Brown Cow and Malone Commercial arrange 2,126 s/f seven-year lease
July 28, 2023
Portland, ME East Brown Cow and Malone Commercial Brokers have arranged for Rough & Tumble to sign a seven-year lease at 178 Middle St., bringing a popular local retailer to the heart Old Port following their decision to again locate a “flagship store”. The 2,126 s/f space is located on the ground floor of the brick building at the corner of Market and Middle Sts.
Haynes Group and Phase Zero Design breaks ground
on new Mighty Squirrel location - 13,000 s/f
July 28, 2023
Boston, MA The secret is out, another Mighty Squirrel location is coming. “We are thrilled to announce that we are building a brewery and taproom in the Fenway neighborhood of Boston at 1 David Ortiz Dr., steps from Fenway Park,” said Naveen Pawar, the co-founder of Mighty Squirrel.
Retail Mid-Summer 2023 - by Carol Todreas
July 28, 2023
Since the beginning of the year the list of retailers who have filed for Chapter 11 seems to have grown exponentially with one of the recent ones, Christmas Tree Shops,being a bit tough to swallow since it had been local to New England and a favorite for many. The old way of doing retail is no longer viable; yet, retailers who know their market are clamoring for space in good malls.
Siegel of IPA completes three-property portfolio sale for $29.5 million
July 28, 2023
Barnstable, MA Institutional Property Advisors (IPA), a division of Marcus & Millichap, completed the sale of a three-property portfolio of single-tenant net-leased assets. The properties are a 122,358 s/f BJ’s Wholesale and a 7,974 s/f Napa Auto Parts store in Jacksonville, FL, and a 9,750 s/f CVS pharmacy in Barnstable. The portfolio sold for $29.5 million.
King and Wirt of Commercial Realty Advisors arrange sale of Café Chew
July 28, 2023
Sandwich, MA Commercial Realty Advisors has completed the sale of Café Chew. The business, assets and real estate located at 4 Merchants Rd. have been acquired by James and Danielle Barber and Chris Carlson and Adrienne Jones, the current owners of the Café Alfresco, in Brewster, Mass.
Penman of Newmark completes sale of Brookside Center - 170,665 s/f
July 28, 2023
Bridgeport, CT Newmark completed the sale of Brookside Center, a grocery-anchored shopping center. Newmark managing director Paul Penman of the firm’s Boston Capital Markets Group’s retail practice represented the seller and procured the buyer, DLC Management. Newmark co-head of U.S. Capital Markets Robert Griffin and managing director Jon Martin provided additional support on the transaction.
Capital Group Properties arranges 1,700 s/f lease for Smoothie King
July 28, 2023
Maynard, MA Capital Group Properties have facilitated a lease signing with Smoothie King at Maynard Crossing, a premier new 300,000 s/f mixed-use development anchored by Market Basket. This new location, slated to open in the fall of 2023, marks the company’s first store in Massachusetts.
Atlantic Capital Partners finalizes $17.4m sale of anchored Stop & Shop
July 28, 2023
Framingham, MA Atlantic Capital Partners has completed the sale of the Stop and Shop, a grocery-anchored, multi-tenant shopping center for $17.4 million. Justin Smith, head of capital markets; Chris Peterson, vice president of capital markets; Sam Koonce, vice president of capital markets; and Danielle Donovan, senior analyst
The Boulos Company facilitates 10,768 s/f lease for Five Below
July 28, 2023
Topsham, ME Five Below leased 10,768 s/f of retail space at the Topsham Crossing Center, bringing the complex to 100% occupancy for the first time since Bed Bath & Beyond relocated to Brunswick in 2016. Derek Miller, Brice O’Connor, and Sasha Phillips of The Boulos Company represented the landlord, Bridge33 Capital, in the transaction and Jim Bagley with Atlantic Retail represented the tenant.
Horvath & Tremblay brokers $15.3m sale of a 125,400 s/f Lowe’s
July 28, 2023
North Providence, RI Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of a Lowe’s Home Improvement. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $15.3 million, a 6.53% cap rate.
Richetelli of Colonial Properties sells multi-tenant property for $2.033 million
July 28, 2023
Milford, CT Michael Richetelli, president and designated broker of Colonial Properties, Inc., has completed the following transaction. Michael Richetelli represented the seller, Milford Post Associates, LLC, in the sale of 1590 Boston Post Rd., a multi -tenant retail property on .81 +/- acres for $2,032,900.
Zolotas and Vincent of Herrick Lutts facilitate two leases totaling 7,411 s/f
July 28, 2023
Beverly, MA Herrick Lutts Realty Partners represented both ownership and tenant in these recent transactions: Nick Zolotas and Rich Vincent of Herrick Lutts Realty Partners secured the lease between owner Winkel Properties and the new tenant, Beverly G. LLC , for retail space at 27-33 Enon St. Formerly a 6,066 s/f Bertucci’s Italian Restaurant, the two parties have entered into a long-term lease with options to extend.
Bachman and Choate of Colliers complete $8.8 million sale of Mill Plaza
July 28, 2023
Durham, NH Colliers has completed the sale of Mill Plaza. According to the Strafford County Registry of Deeds, the sale price was $8.8 million. Abigail Bachman and David Choate, of Colliers’ Portsmouth office, represented the seller, Colonial Durham Associates, L.P., in this ‘Call for Offers’ style sale.