News: Northern New England

Tranzon Auction sells 15 gas stations and convenience stores for TD Bank

Tranzon Auction Properties has completed the transaction of 15 gas station and convenience stores located across Massachusetts and Southern New Hampshire. Tranzon Auction began marketing the portfolio of foreclosure properties for TD Bank in early June, attracting over 300 potential buyers from the continental US and Canada. The auctions began June 21st and concluded on the 29th. Sales of the properties totaled over $8.5 million. Thomas Saturley, president of Tranzon Auction, said of the sales, "The foreclosure process creates special challenges for the successful marketing campaign of a project auctioning 15 C-Stores. Working with Ransom Environmental of Portsmouth, NH and the law firm of Bowditch & Dewey of Worcester, Mass., we were able to timely provide prospective purchasers initial due diligence information allowing them to accomplish the necessary pre-auction investigation necessary to be successful bidders. The results of these sales clearly demonstrate the effectiveness of the methodology as well as the continuing strengthening of our economy."
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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