Horvath and Mancinone of Marcus & Millichap broker two deals
Robert Horvath and Adam Mancinone of Marcus & Millichap Investment Real Estate Services of New Haven brokered the sale of 528 Monroe Tpke. and 1595 Black Rock Tpke.
528 Monroe Tpke. is a 1.92 acre site approved for 7,000 s/f of retail development located on the busy Rte. 111 corridor in Monroe. The development site sold for $575,000. This approved development site is directly across from Century Plaza, one of the major shopping centers in Monroe. The building was sold by a regional builder, and purchased by a regional retail investor.
1595 Black Rock Tpke. is a 4,400 s/f office building in Fairfield. The building consists of four tenants - County Mortgage, Cusmano Agency, Fairfield Tax & Accounting, and Leon & Lawrence Personnel. The office building sold for $900,000. The building was sold by an owner/user and purchased by a local business owner/investor. Horvath and Mancinone of Marcus & Millichap and Doug Munson of Munson Real Estate in Fairfieldworked collectively to represent the seller and procure the buyer.
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 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!
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 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