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There must be a silver lining somewhere in this picture - Dennis Serpone
July 29, 2022
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? The answer is very simple…because ‘restaurants’ can be very profitable
With leveling out of markets, it is encouraging to see tenants signing new leases and renewals - by ...
July 29, 2022
The New Hampshire office and industrial market are starting to level off from the impact of the pandemic. Over the last four quarters, the vacancy rate in the office sector has seen practically no change quarter-to-quarter. With deals being signed and little change in the overall office vacancy rate,
The Dunham Group’s mid-year update reflects a strong landlord and property owner’s market - by J...
July 29, 2022
The Greater Portland industrial vacancy rate has risen slightly in the last six months to 2.28%, up from a paltry 1.69% at the close of 2021. The Dunham Group is pleased to present our mid-year update to the annual Greater Portland Industrial Market Survey. The statistics as of July 1, 2022, continue
Commercial property owners, you better check your “No Vacancy” sign - by Spencer Macalaster
July 29, 2022
As employers continue to review their return-to-office plans in the midst of the various COVID variants and ‘breakthrough’ infections, remote working and hybrid office models, owners and lessors of real estate need to also be reminded of the impact that ‘vacancy’ clauses can have
The world has shifted and what that means to sellers, investors, etc. - by David Skinner
July 29, 2022
I am tempted, as a real estate soothsayer, to jump for joy when I look at prognostications in years past that I have posted right here in the New England Real Estate Journal regarding the future of the industrial real estate market. You may ask, “David, why do you jump for joy?
Where we go from here is anybody’s guess - by Earle Wason
July 29, 2022
In my article for the New England Real Estate Journal’s Mid-Year Review two years ago I ended by writing “I see huge pent-up demand for travelers once we do recover from the pandemic.” Yes, I was right about the pent-up demand and travelers inundated destination resorts throughout New England
Employee must be paid in full for earned wages on termination date to avoid treble damages - by Mich...
July 29, 2022
A recent decision by the state’s highest court has reinterpreted the Massachusetts Wage Act’s damages calculation for a late wage payment to a discharged employee, holding that an employer that does not pay earned wages in full on an employee’s termination date is liable
Summer is the time to keep an eye on factors which affect our business futures - by David O'Sullivan...
July 29, 2022
Ah, it’s summer and a time for relaxation and vacations. But the world does not pause when we decide to go away and enjoy the beach, mountains or explore new places. The news in the real estate industry is about supply chain issues, project delays, rising interest rates and falling sales
Why doesn’t it feel right? What is going on out there? Read the tea leaves - by Bill Pastuszek
July 29, 2022
Beige Book, June 2022. Economic activity in the First District increased slightly amid robust wage and price growth. Labor scarcity remained a widespread problem as headcounts increased only slightly. Restaurant profits fell on steep input price increases. The outlook for summer tourism was bright,
2022 Mid-Year Review and Forecast for 1031 tax-deferred exchanges in second half of 2022 - by Brenda...
July 29, 2022
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 within forty-five days of
Benchmark Senior Living expanding footprint to Greater Washington, D.C. area
July 22, 2022
Alexandria, VA Over the past 25 years, Benchmark Senior Living, the largest senior living provider in New England, has become an industry leader for independent living, assisted living and memory care. Now, the organization is bringing its award-winning senior care and experiences to Virginia and the greater Washington, D.C. area for the first time with
Conn./Western Mass. Chapter of the SIOR summer chapter meeting held at Pine Orchard Yacht and Countr...
July 22, 2022
Branford, CT The Connecticut / Western Massachusetts Chapter of the Society of Industrial & Office Realtors recently held its summer member meeting and event at Pine Orchard Yacht and Country Club. Following a regular quarterly meeting, as the skies were clearing from an earlier seasonal rain, members enjoyed a boat ride aboard
CCIM Conn. Chapter holds “Jaigantic Deals & Drinks” event
July 22, 2022
Shelton, CT The CCIM Connecticut Chapter held a Deals & Drinks networking event at Jaigantic Studios on Thursday, June 30. This unique event brought together nearly 50 members, guests and sponsors to network, share their deals and learn about the growing movie production scene in the state.
STV leading design for Rte. 8 bridge rehabilitation and safety improvements in Connecticut
July 22, 2022
Seymour, CT STV will serve as the lead designer for the Conn. Department of Transportation’s (CTDOT) $77 million Rte. 8 improvement program between Shelton and Seymour. Empire Paving, Inc., will lead the design-build team. STV will provide a full suite of design and construction phase services for Rte. 8’s roadway and bridge rehabilitation,
Vidal/Wettenstein closes $3.05 million sale of 31,298 s/f industrial building
July 22, 2022
Shelton, CT The former Electri- Cable Assemblies (ECA) building located at 10 Mountain View Dr. was sold. The purchaser was Shelton Winair which was located on River Rd. The building is 31,298 s/f and is situated on 5.16 acres. It sold for $3.05 million or $97.45 per s/f.
Geirin joins Pearce Real Estate as sales associate
July 22, 2022
New Haven, CT Nanette Pastore, president of Pearce Real Estate, said that Dan Geirin has joined the company as a residential sales associate. “We are delighted to have Dan Geirin join our team,” said Pastore. “His accounting background, prior professional
Wickey and Greenberg of SCRE lease 2,071 s/f to Blue & Cream
July 22, 2022
Westport, CT Saugatuck Commercial Real Estate (SCRE) represented the owners of 46-48 Post Rd. East in leasing 2,071 s/f to Blue & Cream. Richard Skulnik of RIPCO represented Blue & Cream. Penny Wickey and Nathan Greenberg of SCRE represented the owners, 46 Post Road LLC, and will continue
Kempner Properties acquires 19-unit multifamily for $3.45 million; Kravet Realty reps the seller Cha...
July 22, 2022
Stamford, CT Kempner Properties purchased a 18,908 s/f property at 470 Glenbrook Rd. for $3.45 million. The building, features 19 rental units, comprised of one and two bedrooms and 19 on-site (outdoor) parking spaces. Doug Kempner, owner/principal at Kempner Properties, said
