News:
Brokerage
Posted: October 24, 2013
Washington Trust finances $6.9 million for 37,175 s/f
Washington Trust's commercial real estate group provided $6.9 million in construction financing to Storrs Center Alliance, LLC for the construction of a 32,175 s/f Price Chopper Supermarket and a 5,000 s/f stand-alone retail building. The property is located in downtown across from the University of Connecticut and is the latest phase of the Storrs Center project being developed by LeylandAlliance, LLC.
"The property has great market potential and is located in an especially attractive, high-traffic area near the University of Connecticut," said Joseph MarcAurele, Washington Trust chairman, president and CEO.
Leyland Alliance, LLC is a real estate development company focused on the creation of mixed-used sustainable neighborhoods founded upon the principles of New Urbanism.
MORE FROM Brokerage
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.
Quick Hits
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
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.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
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.