WP Realty and Angelo, Gordon & Co. have acquired Fairlawn Town Centre. Fairlawn is positioned in Summit County, west of Akron and 35 minutes from downtown Cleveland, the second largest city in Ohio. The University of Akron, with an enrollment of 25,000 students, is located less than five miles from the property.
Fairlawn Town Centre is a 447,037 s/f community shopping center comprised of five buildings including one restaurant pad and is anchored by several national and regional retailers including Giant Eagle, Target (separately owned), Home Goods, Pet Supplies Plus, and Marc's. In-line retail tenants include a mix of national, regional, and local tenants including U.S. Post Office, Chuck E. Cheese, Panera Bread, GNC, Subway, and Radio Shack.
The acquisition of the center also included a vacant 39,840 s/f junior anchor box formerly occupied by Circuit City. Fairlawn Town Centre provided an excellent opportunity to acquire a well-located stable grocery-anchored shopping center with considerable immediate upside through the lease-up of the vacant anchor and inline space.
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