News: Rhode Island

Steingold and Paskalis of MG Commercial broker $2.15 million sale

The former Herb Chambers Cadillac dealership property located at 101 Cadillac Dr. has sold. The property is highly visible and offers significant parking capabilities. The buyer, Good Fortune Realty of RI, LLC will open and operate a supermarket specializing in Asian food products. The company known as Good Fortune Supermarket Group has 12 stores from Virginia to Mass. Larry Steingold and George Paskalis, SIOR of MG Commercial Real Estate were the exclusive brokers involved in the transaction. The sale price was $2.15 million. In another transaction, Gerry Surprenant, executive vice president of MG Commercial has leased office space to two companies at Lincoln Corporate Center, 24 Albion Rd. in Lincoln. New Horizon Computer Learning Center leased 4,300 s/f which was retrofitted into classroom and training area. Tony Caner of Newmark Grubb Knight Frank represented New Horizon. Aurum Advantage, LLC leased 4,000 s/f of office and showroom space for their sale and marketing of consumer goods. Aurum selected Lincoln Corporate Center to be near their client, CVS Corporation. Lincoln Corporate Center is a 60,000 s/f office development, consisting of four 15,000 s/f free-standing, single-story office and flex-space buildings.
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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