Woburn, Mass. — CBRE has arranged the $11.2 million sale of a Woburn Plaza, a 31,994-square-foot shopping center located in Woburn, on the northern outskirts of Boston. Tenants at the property include West Marine, Eastern Bank and Mattress Firm. Nat Heald, Kyle Juszczyszyn, Connor Scott and Jordana Roet of CBRE represented the seller, Linear Retail Properties, in the transaction. Chestnut Realty Management acquired the property.
Chelmsford, Mass. —Winstanley Enterprises and Surrey Equities have purchased Chelmsford Mall in Chelmsford for $28 million in an off-market transaction. The seller was the original developer. Tenants at the property, which was fully leased at the time of sale, include Kohl’s, Michaels, PetSmart, Staples, Famous Footwear, Carter’s and Best Fitness. The buyers plan to make immediate investments into the property, with upgrades including new exterior paint, parking lot improvements, new landscaping and signage upgrades. Winstanley Enterprises also owns Chelmsford Town Center, a 41,000 square-foot shopping center located in downtown Chelmsford.
Malden, Mass. —Atlantic Capital Partners has arranged the $26.2 million sale of a single-tenant retail property located in the Boston suburb of Malden. Stop & Shop grocery store occupies the building, which totals 79,299 square feet and is situated with proximity to the Malden Center MBTA station. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the seller in the transaction and procured the buyer.
Burlington, Mass. — Simon has completed a 130,000-square-foot redevelopment at Burlington Mall, a retail property located in the Boston suburb of Burlington. The project included the addition of an outdoor park with green space and amenities; elevated wood elements and porcelain tile finishes throughout the center; and new seating and signage. Almost 50 retailers and eateries were also added during the redevelopment. The park features 30,000 square feet of space dedicated to wellness, beauty and dining for concepts including Sweetgreen, Sweathouz, All Eye Care Doctors, SkinMD and Caffe Nero. New tenants …
Boston — Boston-based Gordon Brothers has provided a $150 million debtor-in-possession (DIP) loan to Big Lots Inc. The financing will support the Columbus, Ohio-based company’s going-concern sale and stalking horse bid as it continues Chapter 11 bankruptcy proceedings. Gordon Brothers previously provided a $200 million delayed draw term loan to Big Lots. “As the liquidation agent for the non-go-forward store closures, distribution centers and furniture, fixtures and equipment, we will continue to support the company during the sale process,” says Kyle Shonak, senior managing director, transaction team and head of North …
Westborough, Mass. — Marcus & Millichap has brokered the $4.8 million sale of Westmeadow Plaza, a retail center located in Westborough, roughly 35 miles west of Boston. Tenants at the 27,867-square-foot property, which was fully leased at the time of sale, include Papa Gino’s, H&R Block, Westborough Dentistry and Spices of India. Evan Griffith, Tony Pepdjonovic and Brett Kilar of Marcus & Millichap represented the seller and procured the buyer in the transaction.
Egg Harbor Township, N.J. — Spirit Halloween has announced plans to test a new, Christmas-themed concept with the opening of 10 stores. Spirit Christmas stores will feature décor, apparel, inflatables, gifts and stocking stuffers, as well as interactive elements including a life-sized gingerbread village. Scheduled to open beginning in November, the 10 test stores will be located at shopping centers in New Jersey, New York, Pennsylvania, Connecticut and Massachusetts.
Kingston, Mass. — Second Horizon Capital has acquired a 150,000-square-foot Macy’s store located in Kingston in a sale-leaseback transaction. Situated on a 15.2-acre parcel, the building is located within Kingston Collection. Macy’s will continue to operate at the site through early 2025.
Cambridge, Mass. — Two new concepts have joined the lineup at CanalSide Food + Drink, a new food hall scheduled to open this month in Cambridge. Eateries Juicygreens and Far Out Ice Cream have joined the vendor lineup, which also includes anoush’ella, Caffé Nero, Chilacates, DalMoros Fresh Pasta to Go, Fresh, InChu, Lala’s Neapolitan-ish Pizza, Nu Burger, Sapporo Ramen and Teazzi Tea Shop. New England Development is the developer of the property, which was designed by RODE. The project team also includes general contractor Whiting Turning.
Pittsfield, Mass. — Cronheim Mortgage has secured a $7.4 million loan for the refinancing of Merrill Road Retail Plaza, a shopping center located in Pittsfield. Constructed in 1971, the property was fully leased at the time of financing to tenants including T.J. Maxx, HomeGoods, Harbor Freight, Aspen Dental, Sally Beauty Supply and Planet Fitness. Andrew Stewart, Dev Morris and Brandon Szwalbenest of Cronheim arranged the 10-year financing on behalf of the borrower, Phoenix Realty Management.
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