Summit Realty Partners begins renovation for 41,200 s/f Spaulding Commons
Summit Realty Partners is leasing space at the 41,200 s/f Globe Plaza which is currently being renovated with major improvements to the façade, parking lot, landscaping, and pylon signs. When complete, the shopping center, which was originally built in the 1960s, will emerge as "Spaulding Commons" a modern day neighborhood shopping destination.
The location of Spaulding Commons, at the base of Exit 14 on the Spaulding Turnpike, makes the shopping center convenient to both local residents and the 33,200 daily average vehicles passing by on the Spaulding Turnpike. Planet Fitness recently executed a ten-year lease renewal for 12,768 s/f at this neighborhood shopping center located at the lighted intersection of No. Main St. and Ten Rod Rd.
Other businesses at Spaulding Commons include but are not limited to H&R Block, Sun Tan City, Rent A Center and Little Caesars. Area businesses include Hannaford Supermarket, Home Depot, CVS Pharmacy, Dunkin Donuts, and many more.
Chris McMahon of Summit Realty Partners represents the landlord, R.E.L. Commons in its leasing efforts. Present leasing opportunities exist at Spaulding Commons for up to 9,000 s/f.
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
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.