News:
Brokerage
Posted: September 30, 2022
Sherman of Angel Commercial sells 5,732 s/f strip center for $2.75 million
Norwalk, CT Angel Commercial, LLC, negotiated the sale of 588 Main Ave., for $2.75 million to an undisclosed investor. The seller was JA Real Property Corp. Inc., whose principal owned the property for 37 years.
“588 Main Ave. is a 5,732 s/f neighborhood retail strip center that is fully leased by two long-term national tenants, Subway and Mattress Firm,” said Brett Sherman, CCIM, senior vice president at Angel Commercial who represented the seller. “This purchase was a 1031 Exchange for the buyer, and they were able to acquire a great asset in an excellent location.”
Bryan Atherton and Matt Renzulli from Coldwell Banker Commercial represented the buyer.
MORE FROM Brokerage
Monarch Capital Partners completes $10.7 million acquisition of 115 and 117 Flanders Rd.
Westborough, MA Monarch Capital Partners (Monarch), a Boston-based commercial real estate investment firm, has completed its first acquisition: 115 & 117 Flanders Rd. The 115,241 s/f flex/R&D/office and shallow-bay industrial property was acquired on September 29, 2026, for $10.7 million, or $93 per s/f.
Quick Hits
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
