Recently Completed Transaction: One Campbell Street, Pawtucket, Rhode Island

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We are pleased to announce the sale of One Campbell Street to RJP Packaging for $1,150,000. Daniel Cregan, a member of our Rhode Island Industrial & Logistics Advisory & Transaction Services team, represented the seller, Imperial Packaging. One Campbell Street is a 47,450 SF industrial building located on 1.42 acres of land in the desirable Industrial Highway area of Pawtucket. The site has good access to Interstates 95, 195, 295 and 495. The building includes 40 parking spaces, five dock-height doors, 14-20′ clear height and a 5,000 SF office area.

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CBRE/New England’s Rhode Island Industrial & Logistics Advisory & Transaction Services team is comprised of knowledgeable real estate experts who have a proven track record in serving the full spectrum of industrial services. Our global service platform offers expertise in supply chain logistics, manufacturing, R&D, warehousing and distribution, and land measurements. Supported by up-to-date knowledge of local, regional and national industrial markets, we offer unparalleled levels of experience and expertise on behalf of both occupier and landlord clients.

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CBRE/New England Research Highlighted at State House Day

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On Thursday, April 12, our Évianne Netherwood-Schwesig’s research on the 495/Metro West market was displayed at 495/MetroWest Partnership’s annual State House Day. The 495/Metro West market extends along the Interstate 495 corridor from Westford in the north to Foxborough in the south, and spreads east-west along Route 9 from Natick to Shrewsbury. While once primarily an industrial economy, the area today supports a broad spectrum of white-collar occupiers, including a growing cohort of tech and life science companies.
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A high-level overview of Évianne’s findings is below:

  • Although 2018 began in the red, absorption was positive in three of the four preceding quarters. Continued healthy tenant demand indicates that the market is on solid footing.

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  • Vacancy has declined steadily over the last three quarters, as increasing numbers of tenants look for affordable alternatives outside the Boston urban core.

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  • 495/Metro West rents have seen modest growth in recent years, as is to be expected as the market gains attention. However, rents remain at a dramatically better value than in the Boston urban core, where rapid growth has driven the rental gap even wider.

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  • Specific 495/Metro West company statistics can be found below:

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To read more about Évianne’s findings, click here.

2018 CBRE Women’s Networking Forum

IMG_0069.jpgCBRE hosted its 2018 CBRE Women’s Networking Forum, the largest company gathering of women, March 14-16 in Chicago. Five of our six female Partners attended the event, Eileen Carroll, Martha Dellenback, Anita DiPrizio Pasquale, Suzanne Duca and Erin Walls, in addition to 400 other women from CBRE Inc. The three-day event included speakers such as Bob Sulentic, President and Chief Executive Officer and Executive Sponsor of the CBRE Women’s Network, CBRE; Wendy Silverstein, Chief Executive Officer, New York REIT; Dr. Victoria H. Medvec, Medvec & Associates and Kellogg Graduate School of Business, Center for Executive Women; Erica Dhawan, Leadership Strategist and Connectional Intelligence Expert; Carla Harris, Vice Chairman, Global Wealth Management, Morgan Stanley; Karina Muller, Founder and Chief Executive Officer, Maripossa Wellness; as well as many other featured speakers.

I asked the group to share a key takeaway from the event:

Duca_SuzanneSuzanne Duca came back from the trip raving about Dr. Victoria H. Medvec’s constant flow of quotes from the Friday morning 9 a.m. meeting. A couple of Dr. Medvec’s memorable quotes are below:

 

 

 

People who set more ambitious goals get MORE.

Nobody owns your brand but YOU, own it!

anitaAnita DiPrizio Pasquale’s favorite quote from the forum was, “Fake it till you make it.” She noticed that the quote was in the opening address by Lisa Konieczka and was also mentioned by a handful of other speakers.

 

 

 

Walls_ErinErin Walls came back from the forum excited to have heard from Bob Sulentic. Erin commented, “At what other Fortune 200+ company do you have the opportunity to speak and be heard by the CEO? It’s always great to hear directly from Bob Sulentic on the aspirations for CBRE to be world class, which means having the ability to consistently deliver client outcomes that others cannot. It’s always engaging to hear directly from Bob on some of the advancements that are being made to ensure that the strength and depth of CBRE continues to grow—for both our employees and our clients. Hearing Bob’s resounding confirmation that the Women’s Network at CBRE is the most compelling group and event (Women’s Networking Forum) not only at the company but also in the industry, continued to drive my devotion to the Women’s Network.”

Erin was also captivated by Dr. Victoria Medvec’s three-hour session, which she felt was not long enough. In addition to what was mentioned above, a couple other quotes that really stood out were:

It is not your job to decide if you are qualified.

Be your own best story teller, set the right goals and ask for the opportunity.

The CBRE Women’s Network was formed in 2000 and has more than 3,000 members from all levels of the organization, the company’s three regions and every business line. The group’s mission is to “Promote the Success of Women,” which is guided by three key principles: Growth, Connection and Mentorship.