Stop & Shop names RHYS agent for two Bergen Cty. shop. ctrs.
In its first important foray into the New Jersey marketplace, RHYS Commercial has been named exclusive leasing agent for two Stop & Shop retail centers in Bergen County.
The assignment brings the company's growing suburban shopping center portfolio to over 4.5 million s/f, according to RHYS president and CEO Cory Gubner, whose recently launched firm is now exclusive agent for over 80 commercial properties in the Tri-State marketplace.
The latest RHYS retail leasing assignment consists of Franklin Avenue Plaza, a 200,000 s/f shopping center anchored by a new Super Stop & Shop at the highly trafficked intersection of Godwin and Greenwood Aves. in Wyckoff and the 95,000 s/f Stop & Shop Plaza that overlooks I-287 at 816 Franklin Lakes Ave. in Franklin Lakes.
RHYS executive vice president and head of its retail services division, Dominick Musilli, together with colleague Michael Weiner, will serve as listing brokers for both properties.
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
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.
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.