News: Rhode Island

Giuttari and Hardy of MG Commercial lease 60,000 s/f warehouse to Portola Tech International

Portola Tech International leased 60,000 s/f of manufacturing and warehouse space at 35 Martin St. from Berkeley Acquisition, LLC. Berkeley Acquisition recently purchased the 233,000 s/f manufacturing facility from KIK Custom Products, Inc. Larry Steingold and George Paskalis of MG Commercial Real Estate represented Berkeley Acquisition in the purchase and also represented the new landlord as their leasing agent. Portola Tech was represented by Mike Giuttari, SIOR and Steve Hardy, also of MG Commercial, in the lease. Portola Tech relocated from a 300,000 s/f mill in Woonsocket. 35 Martin St. provides warehouse space with ceiling heights between 18'9" and 24'5" and 15 loading bays and 200 on-site parking spaces. There is 202,479 s/f of ground floor area and 31,391 s/f of second story office and mezzanine area for storage.
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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

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<br> the First Annual Project of the Year Award! Vote today!

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

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 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