The Grossman Companies renews 1,059 s/f lease to Second Time Around
The retail portion of the mixed-use building at 572 Washington St., known as The Rotunda Building, in Wellesley Center is close to 100% occupancy.
Second Time Around, has renewed its lease of 1,059 s/f. The 35 year-old company, which operates 29 stores in 11 states, is a premier consignment company, offering customers and consignors "upscale resale" with affordable, high-end style.
The announcement was made by Richard McKinnon, director of brokerage services for The Grossman Companies, Inc., exclusive broker for the property who represented the tenant and the landlord, Rotunda Realty Trust, in lease negotiations. McKinnon said the tenant, which has had a retail shop at this location since 2005, likes the property's easily accessible location in the center of one of the region's most prestigious towns.
Among long-time tenants in the building are Anderson Jewelers, J. Todd Gallery and Amarin II, Rutledge Properties and Truly Yogurt. Second-floor office tenants include financial advisors, venture capital firms and other professionals.
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.