News: Connecticut

Glassman of Arnold Peck's Commercial World subleases 40,000 s/f warehouse facility

Mark Glassman of Arnold Peck's Commercial World leased 300 Callegari Dr. , a 40,000 s/f warehouse facility on 6.5 acres to the O'Berk Company of New England, a distributor of glass and plastic bottles, jars, sprays and other closures. Glassman represented The Hoffmaster Group Inc. in the sub-let which had over seven years left on the existing lease. Hoffmaster Group Inc. consolidated its Brooklace Division, a leading manufacturer and supplier of high end tabletop products, to its facility in Oshkosh, Wis., leaving the property vacant for the last year and half. Glassman was able to secure the new tenant within the first month of listing the property for lease to O'Berk of New England. Glassman's in-depth knowledge of the Greater New Haven commercial real estate market and his New Haven CID network of brokers was able to reach out to Dave Melillo of Pearce Commercial who was representing O'Berk of New England. Glassman also assisted Hoffmaster Group in construction management services for the tenant improvements. The lease was facilitated for Hoffmaster Group Inc. by attorney Robert Harmon Jr. of the law firm of Paul, Weiss, LLP of New York, N.Y. and O'Berk's attorney Miriam Hermann with the law firm of Ferro Labella & Zucker.
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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