Summit Realty Partners leases space to Dollar Tree in Milford
According to Summit Realty Partners, Dollar Tree has signed a lease and opened a new store on Rte. 140 at Milford South Plaza. This store opening brings the 45,000 s/f neighborhood shopping center to 100% occupancy. Summit Realty Partners would like to thank John Wise for his involvement in the transaction as Dollar Tree's broker.
In conjunction with representing the landlord in lease negotiations with Dollar Tree, Summit Realty Partners has also renewed leases with Big Lots and with Milford Savings Bank ensuring long term stability for the shopping center. As a result, the landlord is planning to complete significant exterior building and site work upgrades this spring. These upgrades include new exterior paint, upgraded sign bands, new landscape islands improving the flow of traffic, and new landscaping.
Norwich, CT Tim Hines of Horvath & Tremblay has facilitated the sale of 200 multi-family units totaling $16.24 million. Hines arranged the sale of an 83 unit multi-family portfolio in Cromwell, Middletown and Norwich, Conn. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9 million.
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.
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.