Category: Retail

The final numbers are in for 2018; defeasance activities were up 11.9% from 2017 totals of 742, compared to 663 transacted in 2017.  For the past several years borrowers have been moving to exit real estate debt in order to cut down on interest rate expense, as well as take advantage of other opportunities in the market.

Although the demise of retail properties has been greatly amplified by media outlets for several years, there is strong optimism from those in the industry that the retail sector will continue to perform very well in 2019 and beyond.

Just yesterday someone asked me for a social media update and was particularly concerned with Facebook’s policy and privacy. Since I had never truly dug into the fine print of it all, I took it upon myself to read the 12-page privacy document that the majority of us scroll to the bottom of awaiting the agree button. Below is a summary of the latest Facebook policy summarized with what you really need to know and what you agreed to by default. 

Norwich, CT According to Ron Lyman, CCIM, CEO of Lyman Real Estate, Tim Bartha sold 176 and 184 North Main St. to John Oliveira, the owner of Johnny’s Clam Shack, the tenant at the 184 North Main St. location. Lyman agent Eric Reisner represented both sides of the transaction. The two parcels, totaling 1.04 acres, sold for $135,000.

Plymouth, MA Fantini & Gorga has placed three separate loans totaling $7.95 million for three retail properties located in southeastern Massachusetts. The transactions included an acquisition loan of $3 million for a ground leased gas station in Plymouth

Medfield, MA The steady growth of RK Centers of Needham, Mass.continues with the company’s December acquisitions of two landmark retail centers: the 87,614 s/f plaza formerly known as The Medfield Shops – rebranded as RK Medfield Shops –  on Rte. 109 (230 Main St.) in Medfield, and the 114,244 s/f Walmart Supercenter at 770 Broadway (Rte. 1) in Saugus.

Marlborough, MA Jeremiah 29 LLC has broken ground on its new 80,000 s/f climate-controlled self storage facility at 215 Simarano Dr. The building will be situated on a dedicated three-acre site off I-495. 

Meriden, CT Bob Bowden of the R. Calabrese Agency has completed the sale of a property located at 671 East Main St., formerly owned and occupied by CVS.

Somerville, MA Callahan Construction Managers (Callahan), a Bridgewater-based full-service construction management firm, recently completed Montaje, a new mixed-use development in the heart of Assembly Row for Federal Realty Investment Trust. 

Nantucket, MA Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of the ground lease to Stop & Shop. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the transaction at a sale price of $11 million.