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Keeping the “there” there - by Carol Todreas
February 24, 2023
New zoning is a big topic for many communities. Whether it is to comply with the 2021 MBTA legislation calling for more multi-family housing in locales with access to T stations or to address other pressures from public-private entities, zoning for multi-family housing is believed to be a major part of the solution to the housing crisis.
Angel Comm’l brokers $1.825m sale - 5,440 s/f
February 24, 2023
Fairfield, CT Angel Commercial, LLC, arranged the purchase of a 5,440 s/f commercial property on 0.89 acres at 1320 Kings Highway Cutoff by 1320 KHC Assoc., LLC, an investment firm, for $1.825 million. The seller was 1320 Kings Highway LLC.
Northeast’s first LEGO Discovery Center grand opening - 43,000 s/f
February 24, 2023
Somerville, MA April 14, 2023, families in Boston and across the northeast will have the opportunity to experience North America’s first fully renovated next generation LEGO Discovery Center. The grand opening of LEGO Discovery Center Boston
Bubble Bath at High Street Place continues Guest Sommelier Series
February 24, 2023
Boston, MA Bubble Bath, located at 100 High Street Pl., the award-winning wine bar at High Street Place from Tiffani Faison’s Big Heart Hospitality group, is bringing back the Guest Sommelier Series each Monday from 5:00 pm to close.
Horvath & Tremblay sells three properties in New England totaling $5.71 million
February 24, 2023
Ludlow, MA Horvath & Tremblay has completed the sale of three properties in New England for a total of $5.71 million. Bob Horvath, Todd Tremblay and Aaron Huntley of Horvath & Tremblay have completed the sale of a Walgreens Plaza in Ludlow. Horvath & Tremblay exclusively represented the seller to complete this transaction at a sale price of $3.5 million.
MassDevelopment awards $1.52m in grants to support small businesses
February 21, 2023
Boston, MA Massdevelopment has awarded $1.52 million in grants to 13 organizations for small-business support programs in Gateway Cities that will fund projects such as storefront improvement efforts, technical assistance, equipment upgrades, district-wide branding and marketing plans, placemaking and public events, and more.
SCRE represents LMC in two anchor leases totaling 13,167 s/f
February 24, 2023
Stamford, CT Saugatuck Commercial Real Estate (SCRE) represented the developer, Quarterra/Lennar MultiFamily Companies (LMC), in leasing two anchor retail spaces in “sister” luxury mixed-use developments in Stamford and White Plains, NY. Fidelity Brokerage Services leased 7,490 s/f at The Smyth, 885 Washington Blvd. in Stamford
Atlantic Capital Partners sells Ann & Hope Plaza in Seekonk, MA - totaling 107,597 s/f
February 24, 2023
Seekonk, MA Atlantic Capital Partners has sold Ann & Hope Plaza, a regional shopping center. The asset, anchored by Harbor Freight Tools, Petco, and Bed Bath & Beyond, is located in the town’s dominant retail node. Justin Smith, head of capital markets; chris peterson, VP of capital markets; sam koonce, VP of capital markets; Cole Van Gelder
Grossman Development Group acquires 261,672 s/f mixed-use development - Bay State Commons
February 24, 2023
Westborough, MA Grossman Development Group (GDG) has acquired Bay State Commons, a mixed-use 261,672 s/f development. The Roche Bros.-anchored outdoor lifestyle center abuts a two-acre town park and features a variety of dining, shopping, health and wellness offerings
WS Development collaborates with Direct Energy to power multiple properties with renewable energy
February 24, 2023
Boston, MA WS Development has made a deal to purchase energy from NRG Energy, Inc. brand Direct Energy Business. The collaboration includes eight buildings in Boston’s Seaport District and 35 of WS Development’s New England properties, including Legacy Place in Dedham and The Street in Chestnut Hill where WS is headquartered.
The Griffith Pepdjonovic Group of Marcus & Millichap arranges $9.95 million sale of 38,247 s/f The S...
February 24, 2023
Marshfield, MA Marcus & Millichap arranged the $9.95 million sale of The Shops at Ocean’s Gate, a 38,247 s/f retail property. “Multi-tenant retail centers in high traffic locations have recovered quite dramatically since the pandemic with vacancy at record lows and increased investor demand,” said Evan Griffith, senior vice president investments.
The food and beverage industry is poised for a slow, but steady, recovery - by Dennis Serpone
February 24, 2023
I have to feel bad for all those Massachusetts ‘migrants’ who escaped Boston for the warm climes of Florida. It’s not an illusion, the sun seems to be appearing more frequently and the snow never came. This winter’s incredible record-breaking lack of snowfall has been a blessing to the restaurant trade and the pocketbooks of everyone in one way or another
MAG Capital Partners acquires seafood processing facility
February 24, 2023
Portland, ME MAG Capital Partners, LLC acquired a 60,000 s/f lobster processing facility in coastal southern Maine, in a private, off-market sale leaseback transaction.
Southern New Hampshire CRE update - provided by Microsoft/ChatGPT via Open “AI” - by Mike Harrin...
February 24, 2023
Given the recent media hype surrounding Open Artificial Intelligence (AI), specifically a search tool using Microsoft/ChatGPT https://chat.openai.com/chat I thought it would be interesting to have ChatGPT provide the content for the Southern New Hampshire industrial market. The information you are about to read is the response I received from ChatGPT when asking it to complete the following task.
Layoffs, rollups, shakedowns, gummies... and commercial real estate - by David Skinner
February 24, 2023
Writing these articles for the New England Real Estate Journal is fun because it keeps me focused on what is happening not only in Boston but also around New England. I have been working transactions around the northeast over the last couple years and I’ve been seeing some commonalities across the greater New England economic landscape
Trends in industrial warehouse development: Demand driven by e-commerce, parcel delivery, third part...
February 24, 2023
While demand for industrial warehouse and distribution space is not expected to match the record-setting highs seen over the past two years, it will likely keep up with supply as vacancy rates are expected to remain low throughout 2023. Higher interest rates may affect some developers and end-users that would otherwise be looking to expand causing
Project of the Month: Dacon builds 135,000 s/f Edwards Vacuum facility - Boys & Girls Club of Greate...
February 24, 2023
Haverhill, MA Dacon Corporation has completed the 135,000 s/f New England facility for Edwards Vacuum, a designer and manufacturer of advanced technology parts used in the semiconductor, power, renewable energy, scientific R&D markets, analytical instrument manufacturers, chemical and food processing industries.
MBI Inc. and LBB Specialties to relocate to Clarion Partners’ Merritt 7 in Norwalk
February 17, 2023
Norwalk, CT According to Clarion Partners LLC and Marcus Partners, two new tenants will be relocating to Merritt 7. Consumer products marketing company MBI Inc. will be taking 32,648 s/f in the recently upgraded Building 501, while
Conn./Western Mass. SIOR Chapter market survey for July-Dec. 2022
February 17, 2023
Hartford, CT The Connecticut/ Western Massachusetts chapter of SIOR has completed its semi-annual membership survey of commercial real estate market conditions. The survey is based on market activity for the period July 1, 2022 through December 31, 2022 within Connecticut and western Massachusetts.