The Lightstone Group extends leases for two Guitar Center locations
According to The Lightstone Group, one of the largest private real estate owners in the country, Guitar Center has renewed its long-term leases at Hale Rd. Plaza, and at Christmas Tree Shops Plaza in North Attleboro, Mass.
"Guitar Center has strong name recognition throughout the country, and particularly in the N.E. region," said Jeffrey Dash, vice president of retail leasing and management for the Lightstone Group. "Both of these locations have been very successful for the chain, and renewing the leases allows them to continue serving area musicians. Prime locations such as these have propelled the company to become the country's largest musical instrument retailer."
The 16,000 s/f Guitar Center at Hale Rd. Plaza is co-anchored by Christmas Tree Shops, Namro and Cape Cod Crafters. Â Hale Rd. Plaza is minutes away from Buckland Hills Market, home to a wide range of franchise restaurants such as TGI Fridays and Outback Steakhouse, as well as major retailers including Home Depot and Wal-Mart.
Guitar Center's 16,800 s/f location at Christmas Tree Shops Plaza in North Attleboro is shadow-anchored by Kinkos, David's Bridal and Bernie's Electronics and Appliances Superstore.
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.