News
DOWN THE SHORE
June 21, 2011
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| Late last week, G2 Properties bought the old Cenveo building in Easton for $3M (CRE activity doesn't stop once you cross the Bay). It'll be renamed Achievement Park, and Sperry Van Ness' Brad Gillis (who repped the buyer) tells us landlords are pushing aggressive terms to win deals. (Space at Achievement will go for 20% below market.) Seasonal, medical, and agricultural tenants drive activity, although it's important to remember the Eastern Shore includes diverse submarkets. And Brad tells us tenants and buyers will be in the driver's seat for a while. (At press time, it wasn't clear who called shotgun.) |
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| ?Landlords are starting to realize that if they're not proactive and aggressive about chasing deals, tenants will move onto the next building,? Brad says. The 200k SF building will be rehabbed for medical and office space. G2 is applying for a selective demolition permit to increase parking ratios and expects to have space on the market by 2012. |
