Zolotas and Vincent of Herrick Lutts facilitate two leases totaling 7,411 s/f

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.

Horvath & Tremblay brokers $15.3m sale of a 125,400 s/f Lowe’s

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.

The Boulos Company facilitates 10,768 s/f lease for Five Below

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. 

Capital Group Properties arranges 1,700 s/f lease for Smoothie King

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.

Penman of Newmark completes sale of Brookside Center - 170,665 s/f

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.

King and Wirt of Commercial Realty Advisors arrange sale of Café Chew

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. 

Retail Mid-Summer 2023 - by Carol Todreas

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.

Haynes Group and Phase Zero Design breaks ground
on new Mighty Squirrel location - 13,000 s/f

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.

East Brown Cow and Malone Commercial arrange 2,126 s/f seven-year lease

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.

MassDevelopment with RCB provides $6.57m loan for mixed-use renovation

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.