News: Connecticut

Riley and Vinci of H. Pearce Comm'l. sell 24,600 s/f for $1.675m

Neil Riley and Virginia Vinci of the Rocky Hill office of H. Pearce Commercial brokered the sale of a 24,600 s/f office/retail building with a sale price of $1.675 million. The Andrews Building is located at 55-71 East Center St. They represented the seller, Andrews Building LLC. The buyer, L & M Partners LLC was represented by Phil Bench of Re/Max Village Realty Group. 55-71 East Center St. is a 3-story building situated on 1.13 acres of land. Rocco's Restaurant, Ascella Mortgage, Chiropractic Family Health Center and R. J. Smith Insurance are the major tenants. In another transaction, Riley and Vinci sold Unit 111, a 2,742 s/f office condo, for $280,000 at Southway Executive Park located at 35 Cold Spring Rd. in Rocky Hill. Southway Executive Park is a five-building complex. Unit 111 is located in Building One facing Cold Spring Rd. They were the sole brokers involved in this transaction. The seller was B & R Associates and the buyer is CRG Realty LLC. Carney Roy & Gerrol PC will be occupying this office space.
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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