Cape Cod Commercial Real Estate and Business News
HARWICHPORT, MA – The former Thompson’s Farm Market in Harwichport, MA changed hands in mid October 2008. According to a filed deed, the purchase price was $2,250,000 and the buyer was Building Down the Road, LLC. In a recent report published in the Cape Cod Chronicle the buyer was indicated to be affiliated with South Harwich based Back… [Continue Reading]
DENNISPORT, MA – The former Wings property located at 438-444 Route 28 in Dennisport is scheduled to take flight and this time it looks for real. A.J. Lukes Liquors of Dennisport, with an established liquor store at the nearby Benny’s plaza has put into motion their plan to relocate to the former Wings property. As a key first step, in mid… [Continue Reading]
A total of 145 qualified commercial real estate sales transpired on Cape Cod from January – September 2008. The latest figures amount to a 23.3% decline from the level achieved in the same nine month period in 2007. The 2008 drop is also about 42% below the 12-year average of 250 sales and the lowest period to period total since 1997. Quarterly figures reveal… [Continue Reading]
HYANNIS, MA – The Wall Street Journal reported today Circuit City Stores, Inc. is considering a plan which will shutter at least 150 stores and result in the loss of thousands of jobs. Reportedly, the nation’s No. 2 electronic retailer has engaged various legal and industry experts as the firm explores alternatives to filing for bankruptcy protection. (WSJ)
In October 2008, the 141-unit International Inn in Hyannis, MA sold for $5.8 million. The sale was handled by Carey Commercial. Chuck Carey, principal of the Cape Cod commercial real estate and business opportunity brokerage firm bearing his name, shares with us his behind the scenes perspective on this notable transaction. What can you tell… [Continue Reading]
The recently passed Emergency Economic Stabilization Act of 2008 included an extension of the accelerated depreciation allowance for qualified leasehold and restaurant improvements and for certain improvements to retail space. The National Restaurant Association hailed the passage of this “side order” provision extending the current 15-year depreciation schedule for improvements made to restaurant buildings in 2008 and 2009, and for new… [Continue Reading]
