Theroux of Drubner Industrials completes four transactions
David Theroux, a broker with Waterbury based Drubner Industrials, has completed the following transactions.
Middlewood Investments sold a 13,000 s/f office/industrial facility at 205 Interstate Ln. to 715 Straits Turnpike LLC. The seller is leasing back for a short term with the possibility of relocating to a larger facility. The seller owns the business known as North American Theatrix. They design and build sound systems for the commercial market such as Foxwoods, Mohegan Sun and the Bushnell in Hartford. The sale price was $685,000.
JA and Dell LLC sold a 24,000 s/f industrial facility at 80 Turnpike Dr. to 715 Straits Turnpike LLC. The building is leased to and occupied by Thyssen Krupp Materials N.A. Copper and Brass Sales Division. The sale price was $1.225 million.
LAD Associates sold a 15,000 s/f office building at 92 Brookside Rd. to Brookside Investments, LLC. The building is occupied by Alliant Insurance Group based in San Diego, Calif. and owned by the Blackstone Group of New York City. The teant has no plans on moving from the facility. The sale price was $1.8 million.
Theroux was also the broker for the new night club being built on Freight St. known as Sin City. The Bozzuto family owns the building and has leased it to James DeRienzo.
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