News: Connecticut
Posted: January 19, 2024
Connecticut CCIM Chapter Deal of the Month
Guilford, CT The CT CCIM Chapter’s Deal of the Month:
Bryan Atherton, CCIM, SIOR and Matt Renzulli, of the Atherton Team of Better Homes and Gardens Commercial, were the sole agents in the sale of 2695 N. Military Trail, located in West Palm Beach, Florida. The 46,564 s/f retail center set on 4.58 acres closed on August 15, 2023 for $8.65 million.
The agents had a relationship with the seller who didn’t have the time to manage and travel to the property. Utilizing the skills obtained through CRE education through the CCIM Institute, the property was listed for sale on Ten-X and sold to the buyer as a 1031 exchange.
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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
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 Journal presents
the First Annual Project of the Year Award! Vote today!
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!
Investing in a falling rate environment - by Harrison Klein
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 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
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