Kurfehs of Coldwell Banker Commercial, Scalzo Group brokers $2.5 million
Hal Kurfehs of Coldwell Banker Commercial, Scalzo Group, brokered two transactions with value of $2.5 million.
Kurfehs closed on 857-857a Federal Rd. in Brookfield, for $1.8 million from Pierpont Family Living Trust to Brookfield Development, LLC. This property is 4.76 acres that was approved while under contract for 101 apartments. Located in the new town center area designated by Brookfield for mixed-use development this property is one of three major developments approved within the last year.
Kurfehs also sold 71 Ethan Allen Highway, Ridgefield for $700,000 from Alexander Gifford to Durant's, LLC. The building size is 3,632 s/f, with 475 s/f of finished space on the lower level, on .84 acres. The property had been used for sales of Vespa accessories and as an office. Prior to that it was the long time home to Safari Outfitters. The new owner will conduct a Durant's Party & Events operation.
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