Lewis of Vidal/Wettenstein sells 55,000 s/f 2.84 acre retail property for $9.6m
Vidal/Wettenstein LLC, a Westport-based commercial real estate firm since 1968, has sold 490 and 508 Westport Ave. The 2.84 acre retail property with 55,000 s/f of improvements on site sold for $9.6 million. The sellers were NRC Realty LLC and Five Zero Eight Westport LLC, and the buyers are Sackett Norwalk 490 LLC and Sackett 508 LLC.
Robert Lewis, partner with Vidal/ Wettenstein LLC ,was the sole broker in the transaction.
Ski Market and Total Tennis and Fitness occupy the 490 Westport Ave. building. 508 Westport Ave., a 10,600 s/f free standing building, is available. This property is situated in close proximity to the Westport line on a thriving reenergized section of the Rte. 1 retail corridor.
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