News: Connecticut

Vidal/Wettenstein sells 9 Burr Rd. for Hugh L. Levin, LLC for $1.475m

According to Vidal/Wettenstein, 9 Burr Rd., a/k/a 111 Post Rd. West has been sold. The historic renovated three story 5,576 s/f office building sold for $1.475 million. The seller Hugh L. Levin, LLC was represented by Bruce Wettenstein, SIOR and Robert Lewis of Vidal/Wettenstein, LLC, while the buyer Equinox Property Partners1, LLC was represented by Penny Wickey, principal of Saugatuck Commercial Real Estate. Counsel for the seller was Mark Kirsch of Cohen & Wolf and Scott Gerard of Randel and Gerard represented the purchaser. The building was formerly the home to Levin Publishing, Inc. In another transaction, the 50,000 s/f Strawberry Hill Shopping Center located at 420-444 Westport Ave., Norwalk, anchored by Staples and Blockbuster, was recently sold to an entity affiliated with Westport-based Paragon Realty Group LLC. Lewis represented Paragon, while Joseph Breault, Sr. of M. F. Discala represented the seller, SH Realty. Lewis was also the sole broker in the sale of 490 and 508 Westport Ave., a 55,600 s/f retail property which is tenanted by The Fitness and Tennis Club and Ski Market. This property was also purchased by an affiliate of Paragon Realty Group LLC in the last quarter of 2007.
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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