Mulready, McCormick of CBRE negotiate two leases totaling 17,229 s/f
CB Richard Ellis has negotiated two new leases within Meriden Executive Park totaling 17,229 s/f. Revera Health Systems will occupy approximately 10,776 s/f on the 2nd floor at 538 Preston Ave., while Progressive Insurance will take 6,453 s/f on the 3rd floor. Patrick Mulready and John McCormick of CB Richard Ellis represented the landlord, Trammell Crow Companies, in both transactions. H. Pearce represented Revera and Newmark Knight Frank represented Progressive.
Built in 1986, Meriden Executive Park is a two-building suburban office campus set on 17 park-like acres at the intersection of I-91 and I-691. 538 Preston Ave. is a three-story, Class A office property measuring 76,600 s/f. The building features amenities including a 2-story atrium lobby, quality interior and exterior finishes, views of Meriden's East Peak, parking at 4 cars per 1,000 s/f, and 24-hour card-key access.
Trammell Crow Companies is a Texas-based real estate development and investment firm. Since its founding in 1948, the company has developed or acquired over 500 million s/f of buildings with a value in excess of $50 billion. Trammell Crow Company is an independently operated subsidiary of CB Richard Ellis., with over 400 employees.
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