Twelve months of hotel recovery feels good but it should feel better! - by Jim Luchars

Let’s start with the positive. The first quarter of 2023 has proven to be a strong continuation of the hotel recovery in New England and across the country. With the Omicron surge in December 2021, New Year’s plans were cancelled and business and leisure travel plunged in January and February 2022. Fortunately, in Q1 2023, we saw a recovery from this and much stronger demand with Revenue Per Available Room (RevPAR) up 21.5%

Colliers assists on sale of 5,400 s/f building

Plainville, CT Plainville Martial Arts has purchased 240 East St., a 5,400 s/f multi-tenant medical building located on 0.96 acres. Christian Dietz and Phil Gagnon of Colliers International

Sigfridson and White of The Boulos Company broker $3.7 million sale

Dover, NH The Boulos Company’s Drew Sigfridson and Kent White represented Hannaford Bros. Co., LLC in the sale of 829 and 831–833 Central Avenue to Calico Properties, LLC for $3.7 million. 

Freudenheim Partners facilitates new 3,412 s/f office for Lannan Technologies in Seaport

Boston, MA Freudenheim Partners has facilitated a new sublease for Lannan Technologies, a cyber security company looking for a local office presence. They will now occupy 3,412 s/f at 250 Summer St. in the city’s Seaport neighborhood. 

Horvath & Tremblay complete $6.11 million sale of ConvenientMD

Plaistow, NH Matt Nadler, Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of ConvenientMD. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $6,110,169.

Kelly and Putnam of Cushman & Wakefield handle 72,147 s/f in leases at Corporate Ridge

Rocky Hill, CT Cushman & Wakefield has arranged multiple lease transactions totaling 72,147 s/f at Corporate Ridge, a three-building office portfolio located at 55 Capital Blvd., 175 Capital Blvd. and 500 Enterprise Dr.

NAI Glickman Kovago & Jacobs facilitates $4.3m sale of 17.7 acres

Worcester, MA NAI Glickman Kovago & Jacobs has sold 17.7 acres at 1029 Grafton St. for $4.3 million.  The seller, Brandt Lane Living Trust, was represented by NAI Glickman Kovago & Jacobs principal, James Glickman, and vice president, Nolan Ryan. The buyer is Brandt Lane Development LLC. 

Margulies Perruzzi completes 31,000 s/f office
renovation for Boston Trust Walden at at One Beacon St.

Boston, MA Margulies Perruzzi (MP) has completed the renovation of 31,000 s/f at One Beacon St. for Boston Trust Walden, an independent, employee-owned firm providing investment management services to institutional investors and private wealth clients.

Mott & Chace Sotheby’s International Realty sells Narragansett, R.I. property for $2.225m

Narragansett, RI Mott & Chace Sotheby’s International Realty has completed the sale of 65 Gibson Ave. for $2.225 million. The buyers were represented by Susan Radesca and The Soby Fox Team of Mott & Chace Sotheby’s International Realty, and the sellers were represented by David Carty of Carty Realty.

SIOR NE Chapter holds march landlord lunch March 22nd

Newton, MA The SIOR New England Chapter held its third chapter event for 2023 at the Sheraton Four Points on March 22^nd. Approximately 50 SIORs and guests attended the luncheon to hear Tucker Kelton, founder and managing partner of Camber Development.