R. Calabrese Agency and Matthews Comm'l. Props. sell $1.27m bldg.
Ralph Calabrese of R. Calabrese Agency and Gerry Matthew of Matthews Commercial Properties collaborated on the sale of 91 Great Hill Rd. The 35,600 s/f industrial warehouse building owned by S.P. Skinner Co., Inc. was purchased for $1.27 million by Pomeroy Enterprises, LLC.
The building was previously occupied by Portmeirion USA which was the warehouse distribution facility in the U.S. for Portmeirion Group PLC, its British parent company. Portmeirion Group PLC manufactures ceramic tableware, cookware, serving pieces as well as gift products and collectors pieces. Portmeirion USA has been selling and distributing Portmeirion products to large American retail outlets such as Macy's, Bed Bath and Beyond, Fortunoff's, as well as to smaller shops and boutiques and internet retailers since 1986.
In September 2008 the R. Calabrese Agency, LLC satisfied Portmeirion USA's expansion requirements by negotiating a long-term lease for 80,000 s/f at 105 Progress Lane in the neighboring town of Waterbury. After Portmeirion vacated the Naugatuck building, Calabrese was commissioned by S.P. Skinner Co., Inc. to sell their property at 91 Great Hill Rd.
In November of 2008, Matthews procured an offer from his client Pomeroy Enterprises, LLC. The property, while having been well maintained by the previous owner, will undergo a complete facelift and receive a new heating system. The buyer's objective is to place the property back on the market and take advantage of the still active Greater Waterbury/Naugatuck real estate market. Matthews Commercial has been given the exclusive to represent the new owner in marketing this location.
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