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.
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
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.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary