News: Retail

GVA Williams completes $34m sale of 145,000 s/f Newington Fair

GVA Williams has finalized the $34 million sale of a portion of the Newington Fair Shopping Center. The 145,000 s/f transaction consists of two free standing buildings leased to Stew Leonard's and Toy's R Us. The purchaser was DLC Management on behalf of a separate account. The sale is part of the recently renovated and expanded shopping center known as "Newington Fair" located on the Berlin Tpke., ten miles south of Hartford, Conn. According to Jeff Kravet, vice president of GVA Williams, "Berlin Tpke. is one of the few regional retail markets in the state. The corridor is filled with numerous national retailers." GVA Williams was the sole broker in this transaction. The seller was Newington-Berlin Retail, LLC, a joint venture of American National Life Insurance Company and Houston based Realm Realty. "Although there were a number of changes in the credit markets while we worked on this deal, I was impressed by the sophistication of both the buyer and seller to complete this transaction," said Kravet. The DLC acquisition represents the largest part of Newington Fair. The seller is currently completing the remainder of the center which is leased to Sam's Club, LA Fitness, and a yet to be leased 6,500 s/f pad building.
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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

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