News: Brokerage

The Massachusetts Port Authority (Massport) board of directors awards new concessions contract to MarketPlace Logan LLC

Boston, MA The Massachusetts Port Authority (Massport) board of directors voted to authorize the authority to enter into a new ten year contract with MarketPlace Logan LLC, a company of Boston-based New England Development, for the management of the majority of concessions operations at Boston Logan International Airport. Currently, the four terminals of the airport are managed under multiple concessions contracts, with development under the new contract expected to begin in mid-2018.

A Request for Proposals (RFP) was published in July of 2016 and three proposals were submitted by some of the leading companies in the industry. The RFP process was rigorous, to ensure not only operational needs and goals were met, but also strategic plans to encourage the creation of opportunities for Disadvantaged Business Enterprises (DBEs) and Minority-Owned and Women-Owned Enterprises. To ensure a quality review process, Massport formed an internal committee and hired Ann Ferraguto from Air Projects, Inc. as a concessions consultant and retired Supreme Court Justice Robert Cordy to oversee the process.

Paul McGinn, president of MarketPlace Development said, “We look forward to working with everyone at Massport and Logan to bring the very best in food and beverage and retail to the traveling public at our hometown airport.”

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Hines of Horvath & Tremblay completes the sale of 200 multi-family units in Connecticut for $16.24 million

Norwich, CT Tim Hines of Horvath & Tremblay has facilitated the sale of 200 multi-family units totaling $16.24 million. Hines arranged the sale of an 83 unit multi-family portfolio in Cromwell, Middletown and Norwich, Conn. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9 million.
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