Tag: Commercial Real estate
Residential Properties Ltd. is proud to announce the sale of 103-111 Bellevue Avenue and Prospect Hill Street Parking Lot in Newport for $2.905 million. Sally Lapides, President & CEO of Residential Properties Ltd, alongside Peter M. Scotti represented the seller, while Cathy Singer of RPL’s Providence office represented the buyer.
Built circa 1900, the property is located on Bellevue Avenue – a historic street comprised of two-and-a-half miles of beautiful shops, restaurants, and mansions. The building itself is a three story wood frame structure with 12 residential units and four commercial units–including two restaurants and a pair of shops.
The well-maintained 4,300 square foot parking lot on Prospect Hill Street was also included in the transaction.
Singer is a multi-million dollar producer affiliated with the Providence office for over 20 years, while Lapides is the President, CEO, and Founder of Residential Properties Ltd, which is celebrating its 35th year in business this November.
For more information on Sally Lapides, Cathy Singer, and any of our current listings, please visit ResidentialProperties.com.
This week Rich had Nelson Taylor and Joe Luca on to talk about the state of Commercial Real Estate. Commercial real estate trends are lagging indicators because shopping centers, offices and schools can take years to build and usually come after an area has the people to support it. While we never had the overdevelopment that other parts of the country experienced during the boom, the recession has created a number of commercial vacancies throughout the state. Lower prices and attractive interest rates are creating great deals in the Commercial sector.
Commercial Real Estate has always been an old boy’s club, and few encourage buyer representation. We formed RPL Commercial to address the needs of our investor clients, and bring them the same level of buyer representation and service that they had grown accustomed to at RPL. Nelson and his team started the RPL Commercial brand and his client base tends to be investors, developers and small businesses working in creative arts, architects, graphic designers, theatres, and non-profits. Joe has been doing Commercial real estate for 20 years now and comes with a wealth of experience in buyer and tenant representation, and specializes in all aspects of Commercial Real Estate. They both exemplify the type of trusted business advisor and expert Real Estate partner that today’s investors and business people need in their corner.
This week’s Real Estate Insight:
If you are thinking about starting or expanding your business, or have been thinking about getting into investing, now is a great time to negotiate a great lease or purchase a building.
The National Association of Realtors recently posted their views on the commercial real estate market in the United States. Mainly they see investment in commercial properties to start a rising trend, with the caveats of how employment trends continue, seasonal retail sales, and the amount of increase in financing for commercial properties – which is finally starting to show life.
Here’s their video.