Vidal/Wettenstein sells 19,830 s/f for $2.15 million
515 Commerce Dr. has been sold to 515 Commerce Drive, LLC, a real estate company created for Tile America. The industrial building is 19,830 s/f on 1.09 acres. The property sold for $2.15 million or $108.42 per s/f. 5N Plus will remain in half of the facility for their East coast offices and production distribution center. The new owner will occupy the balance of the building for Tile America, after they renovate the space. 5N had purchased Metal Specialties and merged the business into their Canadian operation
Bruce Wettenstein, SIOR and partner with Vidal/Wettenstein was the listing broker and negotiated the sale.
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