Angel Commercial completes three leases totaling 54,900 s/f in Conn.
1-800-PACK-RAT LLC leased 40,000 s/f of warehouse space at 125 Old Gate Lane relocating from a 20,000 s/f space in Stratford.
"The fully renovated Old Gate Lane facility will allow us to continue our efforts to expand our Conn. operations. We are pleased to announce that our recent growth has required us to expand to satisfy the market demand" according to a Pack Rat national spokesperson.
The portable storage and moving company has more than 50 company and franchise-owned territories nationwide and growth is expected to continue with commitments to expand. The Old Gate Lane location is near I-95, which played a role in the site selection according to Jon Angel of Angel Commercial who represented the landlord.
GVA Advantis/Reno Properties represented the tenant.
Potomac Garage Solutions of Conn., LLC has leased 5,400 s/f at 555 Lordship Blvd. in Stratford from 1608 Development LP.
The combination retail/office/industrial space will house the first Connecticut showroom for the company, which specializes in custom, installed garage organization solutions and storage systems. The new building will allow customers to easy access to the showroom. Angel represented both parties in this transaction.
DaVita, Inc., a company providing dialysis services has leased 9,500 s/f of office/medical space at 427 Stillson Road in Fairfield. According to DaVita's regional director of Real Estate, "the site was selected due to its convenient access to both the Merritt Parkway and I-95 and the ability for both patients and staff to be within walking distance of banks, restaurant and shopping on Black Rock Turnpike. Angel represented the landlord in the negotiations while Tom Pulie of USI Real Estate Services represented the tenant.
The new location has gone through a renovation over the past eighteen months.
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