Allaire of Century 21 reps South Main Plaza in 10,000 s/f lease
Jeff Allaire of Century 21 Commonwealth Commercial represented the landlord, South Main Plaza, LLC in a 10,000 s/f lease at 146 South Main St. Cheri McCutchen of ERA Key Realty represented the tenant. The new tenant, The Blessing Barn is expanding their operation and moving from a smaller space nearby. The Blessing Barn is a donation based thrift store operated by Compassion New England. All proceeds are used to serve the community by providing a variety of services including but not limited to: free GED classes, fuel assistance, clothing, food, ESL classes, infant and children's services.
South Main Plaza is a 77,388 s/f retail center offering a mix of co-tenants in the retail, restaurant, and services industries.
Also, Allaire recently represented the seller in the sale of a mixed use 12 unit building at 130 Main St. in Woonsocket, R.I. The Kresge Building featured 3 retail units on the first floor with 9 upscale apartments upstairs. Bill Hermistone and Roy Carlin of New World Realty represented the buyer, AMBA Capital Group, Inc in the acquisition. This turn key property was fully rented at the time of the sale, with a monthly gross income of $8,500 per month. The sale price and the seller were not disclosed.
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.