News: Retail

Connecticut Commercial Realty and Exp Realty complete $1.05 million sale

The New London office of Connecticut Commercial Realty & Select Homes has completed the sale of 143 Gold Star Highway (Rte. 184), at a contract price of $1.05 million. The 3,150 s/f 1950s style diner building sits on an .88 acre lot that is just East of the Gold Star Bridge and across from WalMart. The restaurant property was acquired in 2011 by Davelynn Properties, LLC for conversion to a Five Guys Burgers and Fries. As such, the Groton site became part of a four store chain of Five Guys in New London County. In 2012, all four New London County stores were purchased from the franchisee by the national Five Guys franchise. The Groton Five Guys, which is under a long-term lease, was purchased by Katz Properties, LLC of New York City. They were represented in the sale transaction by Daniel Sa' of Exp Realty Advisors, Inc., also of New York, and by attorney Kate Troy of the Connecticut office of Mayo Crowe, LLC. The seller, Davelynn Properties, LLC was represented by broker William Newman, managing broker of the New London office of Connecticut Commercial Realty. Davelynn Properties, LLC also was represented in the sale by Hartford attorney John Alissi of the firm Updike, Kelly & Spellacy, P.C.
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Retail

McEvoy of Conrad Group facilitates $9.5m sale of Sterling Plaza

Randolph, MA Sterling Trust has sold its Sterling Plaza neighborhood retail site located at 45 Mazzeo Dr. to The Shops at Randolph, LLC. The property is home to several restaurants, including the West End Grill, The Well, Outback Steakhouse and It’s Game Time Sportsbar.

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Columns and Thought Leadership
Village centers and local retail: What the market wants - by Carol Todreas

Village centers and local retail: What the market wants - by Carol Todreas

Good news! Brick and mortar is alive and well. Many malls are coming back. Americans are flocking to Europe to walk, shop, eat, and enjoy much needed vacations. Visitors return and talk about the pleasures of walking and shopping in local shops in cities and towns all over Europe.
Reimagining retail for the downtown - by Carol Todreas

Reimagining retail for the downtown - by Carol Todreas

Before COVID-19, downtown retail had been sliding downwards. A few restaurants and stores were hanging on, but the trajectory was headed south. Now with post- COVID-19 lifestyle changes, old-style retail anywhere has lost its market appeal.
Placemaking and retail in 2024 - by Carol Todreas

Placemaking and retail in 2024 - by Carol Todreas

Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars.

Keeping the “there” there - by Carol Todreas

Keeping the “there” there - by Carol Todreas

New zoning is a big topic for many communities. Whether it is to comply with the 2021 MBTA legislation calling for more multi-family housing in locales with access to T stations or to address other pressures from public-private entities, zoning for multi-family housing is believed to be a major part of the solution to the housing crisis.