KeyPoint Partners negotiates 13,000 s/f lease for CVS at Messina's SC
KeyPoint Partners, LLC has negotiated a 13,000 s/f lease with CVS/pharmacy at Messina's Shopping Centre, a 52,406 s/f convenience center located at the corner of First and Main St. near Rte. 125, easily accessible from I-495. Don Mace handled the transaction on behalf of the landlord.
The CVS/pharmacy lease is part of a major two-phase renovation of the center, which includes new building facades and landscaping. Phase 1 has commenced, and will involve the demolition of the old supermarket to make way for the construction of the new CVS/pharmacy, which will include a drive-through. Tentative completion time for Phase 1 is January. During Phase 2, the old CVS/pharmacy building will be torn down and a new building will be rebuilt to complete the project. CVS/pharmacy, along with the other tenants at the center, will remain open during the entire renovation process.
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