News: Brokerage

The Lightstone Group signs Newbury Comics to 5,200 s/f lease

According to The Lightstone Group, Newbury Comics, Inc., has signed a 5,200 s/f lease at Bernie's Cumberland Plaza. Newbury Comics, Inc., located at 40 Cumberland Ave., is a New England-based independently owned retailer specializing in music, movies and pop culture goods. Operated by its original founders, Newbury's retail locations consist of 28 stores throughout New England. Bernie's Cumberland Plaza is located just off Rte. 1, a major business artery. Among other tenants at the 59,100 s/f Bernie's Cumberland Plaza are Bernie's Audio and Video, Fedex Kinko's Office and Print Center, LA Boxing and David's Bridal. In addition, the facility is shadow anchored by another Lightstone Group property, the Christmas Tree Shops Plaza, a 100,000 s/f shopping center that also houses Guitar Center and Namco, one of America's largest dealers in swimming pools, products and accessories. "Bernie's Cumberland Plaza is one of the most sought after locations in the New England market for a wide variety of retailers," said Jeffrey Dash, vice president of leasing for The Lightstone Group. "Despite these challenging economic times we have maintained steady business and have renewed several leases, all within the last few months. These renewals include Bernie's Audio & Video, David's Bridal and Unique Dental. Newbury Comics is a fun and diverse offering at this destination, which has become an ideal one-stop-shop for consumers around the region."
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Goldberg of Spire Investments purchases Beverly portfolio for $9.2m

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.
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