Vidal/Wettenstein and Colonial Realty sell 38,000 s/f facility to Nuovo Pasta Productions
Nuovo Pasta Productions of Stratford, has expanded their production operation with the purchase of a 38,000 s/f industrial facility located at 1330 Honeyspot Rd. Extension. The company has a production and warehouse facility on Bruce Ave. and had outgrown the building, limiting their expansion capability. This new facility will allow Nuovo to purchase new equipment and expand their business.
Nuovo began in 1989 in a small kitchen with a wooden rolling pin, an imported tabletop pasta machine. The company has grown into a family of culinary trained associates who share in a vision to produce a unique selection of premium pasta and sauces in innovative flavors, colors, and shapes. All fillings at Nuovo are created by hand in the tradition of fine chefs and held to exacting standards that have earned us national awards and critical acclaim at culinary competitions. The company ships its products across America and beyond, filling the needs of discerning chefs, restaurateurs, caterers, and anyone who appreciates a high quality culinary experience.
Dave Gorbach, SIOR and partner with Colonial Realty was the listing broker. Bruce Wettenstein, SIOR & partner with Vidal Wettenstein, represented the purchaser. Both Gorbach and Wettenstein are members of the Society of Industrial and Office Realtors (SIOR) the pre-eminant organization comprised of brokers in the commercial real estate field.
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.