The Grossman Companies renews 6,468 s/f lease for Family Dollar
Family Dollar has renewed its lease for 6,468 s/f at Medford's Stop & Shop Plaza at 469 - 471 Salem St. (Rte. 60) on The Fellsway (Rte. 28). This renewal maintains the plaza's 100% occupancy.
The announcement was made by Richard McKinnon, director of brokerage services at The Grossman Companies, Inc., of Quincy. The plaza's tenant mix and the area's excellent demographics have helped to keep the 81,000 s/f retail plaza fully leased.
Besides Family Dollar and anchor tenant Stop & Shop, other tenants include Rite Aid, MG Fitness, The Hair Cuttery, Alexander Liquors, and a Bank of America ATM. Property management is handled by The Grossman Companies. A quarter million people live within 3 miles of the property.
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.