Messore of Colonial Properties leases 6,700 s/f at 109 Boston Post Road
Fred Messore, vice president and development specialist at Colonial Properties has completed two office leases totaling 6,700 s/f. McKiernan & Associates LLC leased 2,900 s/f at 109 Boston Post Rd. for use as an AFLAC Insurance sales center; they are relocating a Milford office due to a need for more space. Colonial Properties, Inc. was the sole broker in the transaction, representing the landlord, Simone Development of Orange, LLC. Advanced Radiology Associates, LLC has taken 3,800 s/f at Orange Commons, 297 Boston Post Rd. for use as on Open MRI clinic. Orange Commons is now fully leased and includes co-tenants Wells Fargo, UI Smart Living Center, Dunkin' Donuts and Aspen Dental. Messore represented the landlord, Prime Realty, LLC, while David Hansen of CBRE represented Advance Radiology.
In another transaction, Michael Richetelli, president and designated broker at Colonial Properties, represented Urgent Care Center in its 3,800 s/f lease at Home Depot Plaza, Universal Dr., North Haven. Urgent Care Center signed a 10 year lease. This will be its second location. Their first walk-in medical center opened in Orange in 2009. Owner Kimco Realty was represented by Penny Wickey of Saugatuck Commercial Real Estate.
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