News: Connecticut

Matthews Commercial Properties brokers two sales totaling $1.847 million

Gerry Matthews, of Matthews Commercial Properties, completed the sale of 25 acres located just south of the U.S. Post Office on Main St. South. The property traded for $1.26 million. The property was listed with CB Richard Ellis and owned by the U.S. Post Office. Matthews represented the buyers, Southbury Village Square LLC headed by local developers Robert and Charles LaFlamme. They have purchased the property in hopes of bringing a much anticipated cinema to the site as well as a mixed-development of ancillary retail and office users. They are now working the town planning commission in hopes of coming up with a design that will coincide with the town's plan of development. In another transaction, Ed Godin Jr. SIOR of Matthews Commercial Properties represented the buyer in the $587,500 sale of a 17,600 s/f manufacturing facility on 7 acres at 100 New Wood Road in Watertown. The facility is well located near Rte. 63 with good access to I-84 Highway. The buyer, PM Sales, is relocating and expanded from their current Watertown location and will be utilizing the facility for their corporate headquarters and distribution operation. PM Sales is a distributor of specialty metals to the manufacturing industry. The seller was ITT Veam LLC.
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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

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