Trevor Davis Comm'l. executes 3 retail leases in Middletown, Conn.
Trevor Davis, CCIM, of Trevor Davis Commercial Real Estate, LLC, has executed three retail leases at 438-442 Main St., the building at the corner of Washington St. (Rt. 66).
Aculer leased 2,600 s/f of retail space in the former Douglas Bedroom space, 442 Main St. Aculer is a one stop super store for home furniture, appliances, and electronics. They provide financing, renting-to-own options and outright sales. The corner store will have 5 new windows, a new high ceiling and complete renovations.
Mikado Sushi Bar & Grill leased 2,745 s/f in the rear of the building on the lower level. Their address is 3 Melilli Plaza, across from the city's largest municipal parking lot. Their new look includes interior and exterior stonework, an interior waterfall and complete renovations.
Joe Riff's Music leased 6,390 s/f on two levels at 440 Main St. They recently purchased Matt's Music and will continue to meet most music needs including instrument sales, rentals, instructions and repairs.
Trevor Davis represented the landlord, Hilltop Associates, and was the sole broker in all three transactions. 438 Main St. is a mixed-use building and includes two floors of office space above the two retail floors.
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.