WP Realty sells San Souci Plaza to Cedar Shopping Centers, Inc.

WP Realty, a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Penn., has sold San Souci Plaza to Cedar Shopping Centers, Inc. Cedar and WP Realty have enjoyed a history of successful transactions together, including previous sales from WP to Cedar of Jordan Lane Shopping Center in Wethersfield, Conn., Fieldstone Marketplace in New Bedford, Mass.and a six-property portfolio, plus a joint venture at Columbia Mall, Bloomsburg, Penn. San Souci Plaza is a 264,199 s/f grocery-anchored shopping center located at a signalized intersection of Rte. 235 and MacArthur Blvd. Rte. 235 is a heavily-traveled main north-south thoroughfare that connects St. Mary's County with neighboring Charles County, and is a prime retail corridor with easy access to major highway, rail and water transportation. The property was built in 1987 and was renovated in 1997 and 2000, with additional retail space constructed by WP Realty in 2007. It is anchored by Shoppers Food Warehouse in 61,466 s/f and a new Marshalls in 27,000 s/f. San Souci Plaza is currently 96% occupied.

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Prescott IOS secures lease of 151 Rivermoor St. for Eastern Bus Co. at 151 Rivermoor St. in West Roxybury

West Roxbury, MA Prescott IOS has arranged an industrial outdoor storage lease for Eastern Bus Company at 151 Rivermoor St. David Skinner and Devon Wagner of Prescott IOS represented the tenant, while Caroline Munn nd Rob Byrne of CBRE represented the landlord, Feeney Brothers Real Estate. The 40,000 front foot site gives the bus operator secured yard space close to the routes it serves across Boston and the inner suburbs.

Northshore Phoenix High School moves to 10,744 s/f at Cummings Center

Northshore Phoenix High School moves to Cummings Center

Combined Properties leases 18,581 s/f in Centennial Park to HTS Engineering

Combined leases 18,581 s/f to HTS Engineering

Summit brokers freestanding Taco Bell entry into Cape Cod market

NAI Glickman Kovago & Jacobs brokers acquisition of Quarry Square

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Horvath & Tremblay brokers $12.3 million sale of LA Fitness in Saugus, MA

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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.

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.