Mulroy of O'Brien Commercial Properties, Inc. completes three leases totaling 24,090 s/f
Paul Mulroy, senior vice president at O'Brien Commercial Properties, Inc. recently represented Hitch Inc. in leasing 5,000 s/f at 166 Middlesex St. The tenant, The Chelmsford Sports Club, was directly procured by Mulroy. They will be using the space for fitness classes. This completes the leasing efforts at the property.
Mulroy also completed a lease extension at 275 Billerica Rd. The tenant, Pro AV Systems, extended their lease on 12,740 s/f of office and warehouse space. Pro AV continues to grow their audio visual company throughout the region. Mulroy represented the landlord, Shaimus LLC, and originally directly procured the tenant. The 55,000 s/f building is now home to two local businesses and a church.
Also, Mulroy represented C.J. Field Inc. in the leasing of three units at 181 Stedman St., Lowell, MA. The units totaled 6,350 s/f and consisted of warehouse and office space. The tenants, Constitution Construction, Bobby Spindell Training, and Paresh Patel, were all directly procured by Mulroy. These three leases now bring the property to full capacity.
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