Waterstone breaks ground on 60,000 s/f Broadway Crossing
On April 9, Waterstone and the city of Methuen celebrated the groundbreaking of Broadway Crossing, the 60,000 s/f shopping center located at 2 Broadway (Rte. 28) on the Methuen/Lawrence city line. Scheduled to open this coming winter, the center will be anchored by Save-a-Lot Supermarket, the national leader of extreme value grocery stores, auto supply giant O'Reilly Auto parts and Family Dollar.
Broadway Crossing will feature a mix of retailers to serve an extremely dense population of more than 143,000 people within three miles. The center will also serve residents at Winn Residential's adjacent and newly developed Loft 550 Apartments and neighboring Polartec/Malden Mills facility (900 people).
Melrose, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have facilitated the sale of 47 units spread across two multi-family properties in totaling $13.7 million. Kelleher and Pentore facilitated the sale of 333 Main St. and 447 Pleasant St.
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.
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.