Saugatuck Commercial begins year closing significant transactions
Penny Wickey and Daniel Neaton of Saugatuck Commercial Real Estate of Westport, (SCRE) represented Lemle Bristol, LLC in leasing 48,000 s/f of retail space to Hobby Lobby Stores, Inc. at Bristol Farms Plaza, 1235 Farmington Ave.
Hobby Lobby is considered a leader in the arts and crafts industry with over 580 stores across the nation offering more than 67,000 crafting and home decor products.
In a separate transaction for office space, SCRE was the exclusive broker representing Resource Systems Group, Inc. (Daversa Partners) in leasing 10,000 s/f at 55 Greens Farms Rd., Westport. Daversa Partners is a recruiting firm that focuses on recruiting and delivering only those elite "C-Suite" individuals who drive growth and results in the technology universe.
Daversa Partners is relocating its corporate headquarters from Stamford.
SCRE also represented Casual Male-DXL in leasing 8,500 s/f at 1212 Boston Post Rd., Milford for a ten-year term. Casual Male-DXL is new construction located in the center anchored by Old Navy and Bed, Bath & Beyond.
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