Coastal Commercial Real Estate News
• CCRE announces sale of 138 Hatch Street, New Bedford, MA
• CCRE announces Medical Office Condo sale in Middleboro, MA
• CCRE announces business property sale in New Bedford, MA
• Lori A. Nery elected 2011 President of GRNBAR
• CCRE announces the sale of business property in North Dartmouth, MA
• Steady improvement predicted for commercial market
• CCRE announces the sale of business property in Middleboro, MA
• CCRE announces the sale of business property in Fairhaven, MA
• Nery Corp. announces sale of Black Bass Grille in South Dartmouth, MA
• CCRE brokers Lease/Purchase contract for fitness facility in New Bedford, MA
• Top Ten Reasons to Select Coastal Commercial Real Estate
CCRE announces sale of 138 Hatch Street, New Bedford, MA
December 2011
NEW BEDFORD, MA- Kevin A. Nery, CBB, CBI, M&AMI, President of The Nery Corporation d/b/a Coastal Commercial Real Estate is pleased to announce the Sale of the commercial building and property located at 138 Hatch Street in the north end of New Bedford, MA. The 6,940 sf building was sold on November 30, 2011. The Seller was 138 Hatch Street Realty Trust and the Buyer was 138 Hatch Street, LLC., Kelli Arsenault, Manager. Chad D. Brubaker, MBA, brokered the transaction for the Seller. The price is undisclosed.
Coastal Commercial Real Estate Sales and Leasing is a division of The Nery Corporation and specializes in office, retail, commercial, industrial, warehouse and development properties. It is located at 700 Pleasant Street, Suite 330, New Bedford, MA 02740.
CCRE announces Medical Office Condo sale in Middleboro, MA
July 2011
NEW BEDFORD, MA- Kevin A. Nery, President of The Nery Corporation is pleased to announce the Sale of 511 West Grove Street, Unit 104, Middleboro, MA. The 2,015 sq. ft. Medical Office Condominium was sold on June 30, 2011. The Seller was James S. Broome, MD, Trustee of the 511 West Grove Street Trust and the Buyer was Morton Hospital and Medical Center, Inc., Taunton, MA. Ridgway J. Crouch, CMEA, SBA, Senior Associate brokered the transaction. The purchase price was $275,000.
Coastal Commercial Real Estate Sales and Leasing is a division of The Nery Corporation and specializes in office, retail, commercial, industrial and warehouse properties.
Coastal Commercial Real Estate announces business property sale in New Bedford, MA
April 2011
NEW BEDFORD, MA- Kevin A. Nery, CBB, CBI, M&AMI, President of The Nery Corporation is pleased to announce the sale of 75 MacArthur Drive, a 1.56 acre site with a 11,500 sq. ft. building on the New Bedford, MA waterfront on March 1, 2011. The Seller was Mr. Peter Barry/ Petal Realty, LLC and the Buyers were Street Side Realty, LLC and Northern Wind, Inc. Raymond L. Messier, Senior Associate brokered the transaction. The purchase price was undisclosed.
The site has been an auto dealership/ repair and collision center for years and most recently was leased as a health and fitness facility. The planned use is for a seafood processing warehouse.
Coastal Commercial Real Estate Sales and Leasing is a division of The Nery Corporation and specializes in retail, office, commercial, industrial and warehouse properties. It is located at 700 Pleasant Street, Suite 330, New Bedford, MA 02740.
Lori A. Nery Elected 2011 President of GRNBAR
February 2011
Lori A. Nery, CBR, LMS, GRI, Owner/ Broker of Coastal Realty and Vice-President of The Nery Corporation, has been elected the 2011 President of the Greater New Bedford Association of Realtors© (GRNBAR). After several years serving on GRNBAR committees and the Board of Directors, Lori will now serve as President for 2011.
A licensed Real Estate Broker in MA and RI, Lori has obtained the GRI (Graduate Realtor Institute), CBR (Certified Buyers Representative), LMS (Loss Mitigation Specialist), and WHALE Historic Home Specialist designations during her career.
Mrs. Nery is a founding member of the New House Buyer’s Program and a member of the Massachusetts and National Association of REALTORS©. Lori is a committee member of REALTORS© for Charity, a Relay for Life team coordinator, Habitat for Humanity volunteer, member of the Friends of Buttonwood Park, and the Buttonwood Park Zoological Society. Lori Nery is a proud member and volunteer of the American Cancer Society and Heart Association. Congratulations !!
Coastal Commercial Real Estate announces the sale of business property in North Dartmouth, MA
December 2010
New Bedford, MA- The Nery Corporation d/b/a Coastal Commercial Real Estate is pleased to announce the successful sale of 789 State Road, North Dartmouth, MA, on December 15, 2010. The Seller, Nelson Real Estate Management, LLC, sold the 3.46 acres with a 3,200 sq. ft. commercial building to Palm Coast Management Co., LLC. Raymond L. Messier, Broker, represented the Seller. The purchase price was undisclosed.
Steady improvement predicted for commercial market
November 6, 2010
New Orleans, LA- While still experiencing challenges, the commercial real estate market could see signs of steady improvement in the near future, specifically concerning lending. This is according to two economists at the Economic Issues and Commercial Real Estate Business Trends Forum at the 2010 REALTORS® Conference & Expo in New Orleans today.
National Association of REALTORS® Chief Economist Lawrence Yun and Hugh Kelly, clinical professor of real estate at New York University Schack Institute of Real Estate, shared their predictions surrounding the commercial market, indicating a slight improvement in commercial lending.
"Banks' profits have returned to healthy levels. As a result, it is inevitable they will return to the business they were created for, which is lending," said Yun. "Commercial real estate has experienced a sharp price correction, but there is still a shortage of buyers because of lack of adequate capital resources."
Kelly pointed out that most commercial mortgages have been random and idiosyncratic, stressing that the lending environment should not remain that way. "The banks are in the driver’s seat, meaning they can cherry-pick deals and there is no stigma to turning away business," said Kelly. "The capital flow in the commercial real estate market has been very selective. To achieve full recovery, lending practices must improve."
In addition to capital flow, the commercial market depends largely on job creation. Yun stated that since the beginning of 2010, 1 million jobs have been created, yet this number is not high enough. "We have turned a corner and while some job creation is good, we are still at close to 10 percent unemployment," said Yun. According to Yun, the country needs to create much more than 100,000 jobs per month to have a meaningful impact on vacancy rates.
Another challenge affecting the commercial market is corporate profits versus business spending. Yun said in an ideal market, corporate profits and business spending correlate; however, business spending currently is stagnant. Corporate profits have returned to normal, yet companies are not spending their cash. Yun described several reasons for why businesses are not spending, but he said it comes down to consumers and companies being unsure of the future economic climate.
A majority of the commercial real estate sectors are still experiencing hardships with office and retail vacancies continuing to rise. However, Yun said with imports and exports in the U.S. rising, the demand for industrial space will improve. The only sector continuing to perform well is multifamily. Vacancy rates for multifamily properties are falling and rents are expected to rise. Yun said this was mostly due to home ownership rates falling and people postponing home purchases.
Yun's 2011 commercial forecast shows steady improvement in the market with rents stabilizing and net absorption slowly improving. Yun also predicts a moderate GDP expansion of 2 percent to 2.5 percent in the next two years and an unemployment rate of eight percent in 2012 and six percent in 2015.
The National Association of REALTORS®, "The Voice for Real Estate," is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
Coastal Commercial Real Estate announces the sale of business property in Middleboro, MA
October 2010
New Bedford, MA- Coastal Commercial Real Estate (CCRE), a division of The Nery Corporation, is proud to announce the Sale of real estate located at 353 W. Grove Street in Middleboro, MA, on October 26, 2010. Broker Lori A. Nery, CBR, LMS, GRI, Broker/ Vice President of CCRE, represented the Seller, Sharen Cacciatore. The Buyer, John E. Vercollone, owns Verc Rentals in Plymouth, MA. The sale price was undisclosed.
Coastal Commercial Real Estate announces the sale of business property in Fairhaven, MA
September 2010
New Bedford, MA- Coastal Commercial Real Estate (CCRE), a division of The Nery Corporation, is proud to announce the sale of the real estate at 366 Main Street, Fairhaven, MA on September 24, 2010. Broker Lori A. Nery, CBR, LMS, GRI, Broker/ Vice President of CCRE, represented the Seller, Joyce E. Lopes. The Buyer was Kevin Halle. A new, full service Salon is planned.
The Nery Corporation announces the sale of the Black Bass Grille in South Dartmouth, MA
April 2010
New Bedford, MA - Kevin Nery of The Nery Corporation announces the sale of the Black Bass Grille in South Dartmouth, Padanaram, MA, on April 29, 2010. The transaction included the Restaurant business known as the Black Bass Grille and the Real Estate at 3 Water Street, Dartmouth, MA. Rob Stephens, Coastal Busines Brokers, represented the Seller, 3 Water Street, Inc./3 Water Street Realty Trust and Olde Dartmouth Sotheby’s International Realty represented the Buyer, Matthew Rooney, formerly General Manger of The Kinsale Inn in Mattapoisett, MA. The sale price was undisclosed.
The restaurant is currently closed for renovations and is expected to open on May 11, 2010. The Black Bass Grille is a well-known, popular local gathering place serving both lunch and dinner.
CCRE brokers Lease/Purchase contract for new fitness facility in New Bedford, MA
October 2009
Coastal Commercial Real Estate (CCRE), a division of The Nery Corporation, is proud to announce that it has brokered a Lease/Purchase contract between Mr. Andy Cimbron/Powerhouse Gym and Mr. Peter Barry/Petal Realty on Petal’s 9,600 square foot, 1.5 acre property at 75 MacArthur Drive in New Bedford, MA, in October 2009. Raymond L. Messier brokered the transaction.
Mr. Cimbron has a successful fitness center, Powerhouse Gym, in Plymouth, MA, and is preparing the property for a second fitness facility in New Bedford, MA. The planned opening is March 15, 2010.
Top Ten Reasons to Select Coastal Commercial Real Estate
- Results - A proven record of successfully completing sales and leasing transactions.
- Experience - Our firm's professional staff has many years of experience and also takes part in up-to-date training and continuing educational courses.
- Marketing - In addition to exposure on Internet web sites such as Loopnet, CoStar, and MLS Commercial, we also operate within a vast network of Commercial Real Estate Brokers, Investors, Lenders, Accountants, Attorneys, Financial Advisors, etc. This enables us to effectively connect with decision-makers in the marketplace.
- Advertising - In addition to the Internet, we reach out through print advertising, direct mail, and our own proprietary data base of Buyers and Investors.
- Presentation - We create professional informational data sheets on all opportunities and a Confidential Memorandum Book for Investors.
- National Network - Your opportunity will be presented to Buyer's/ Investors at the local, regional, and national/international levels.
- Confidentiality - If needed, you will be protected throughout the process.
- Our Network - Our companies work in a very active business environment, interacting on a daily basis with business owners, company presidents, CEOs, etc., which provides effective networking utilizing all our resources.
- Professional Network - Over the years we have established an excellent reputation amongst professionals and government officials, and have their mutual respect and admiration.
- Co-ordination - We manage and control the entire process, from start to finish.