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Unison Realty, Argosy Real Estate Acquire 421,680-Square-Foot Shopping Center in Southern Massachusetts

by Alex Tostado

Attleboro, Mass. — A joint venture between Unison Realty Partners and Argosy Real Estate Partners has acquired Bristol Place, a 421,680-square-foot, Market Basket-anchored retail center in Attleboro. Bristol Place is situated at the interchange of Interstate 95 and Route 1A, eight miles north of downtown Providence, Rhode Island. Built in 1993 and renovated in 2013, Bristol Place is home to other tenants including Home Depot, Party City, Bob’s Discount Furniture, Hobby Lobby and T.J. Maxx. The joint venture tapped The Wilder Cos. as the property manager and leasing agent for the …

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FinanceMassachusettsNewsRetailers

Citizens Commercial Provides $435 Million Construction Loan for Boston Retail, Office Project

by Alex Tostado

Boston — Citizens Commercial Banking has provided a $435 million construction loan for a 500,000-square-foot office and retail project in Boston’s Seaport District. The new building at 111 Harbor Way will feature two floors of retail space and 15 floors of office space that Amazon will fully occupy. Construction of the project is scheduled for completion by 2021. The borrower, a partnership between locally based investment firm WS Development and Canada’s Public Sector Pension Investment Board, officially broke ground on the building May 28. The partnership is the lead developer …

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Investment salesMassachusettsNet leaseNewsRetailersTexas

Hospitality Properties Trust Buys National Net-Lease Retail Portfolio for $2.4 Billion

by Alex Tostado

Newton, Mass. And Dallas — Hospitality Properties Trust (NASDAQ: HPT) has purchased a portfolio of net-leased retail assets from Spirit MTA REIT for $2.4 billion. The portfolio consists of 774 service-oriented retail properties in 43 states that are occupied by tenants including AMC Theatres, Academy Sports + Outdoors and CarMax. The portfolio was 98 percent occupied as of March 31 and has a weighted average remaining lease term of 8.6 years. The portfolio includes all of SMTA’s owned properties held in its “Master Trust 2014” segment and excludes approximately 100 …

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Investment salesMassachusettsNewsRetailers

Linear Retail Acquires Two Buildings in Wellesley, Massachusetts for $17.6 Million

by Alex Tostado

Wellesley, Mass. — Linear Retail Properties LLC has acquired two buildings totaling 17,900 square feet in downtown Wellesley, a western suburb of Boston. The sale, which included the adjoining 60-space parking lot, closed at a price of $17.6 million. Tenants at the buildings include CVS/pharmacy, Coldwell Banker Residential Brokerage, J.P. Licks and Vision Optics. The seller was a private family trust.

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DevelopmentMassachusettsNewsRetailers

Wayfair to Open First Full-Service Store in Suburban Boston

by Alex Tostado

Natick, Mass. — Online home goods retailer Wayfair Inc. has announced plans to open its first full-service store at the Natick Mall in Natick. At the Wayfair store, service and home-design experts will be available to consult shoppers on home décor, furniture and other products. Customers can purchase an assortment of home décor products, as well as place orders for home deliveries. The location, which is slated to open this fall, will be 3,700 square feet. The Boston-based company generates roughly $7 billion in annual revenue from online purchases.

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FinanceMassachusettsNewsRetailers

Cornerstone Realty Capital Arranges $2.7 Million Acquisition Loan for Retail Building in Massachusetts

by Alex Tostado

Marlborough, Mass. — Cornerstone Realty Capital has arranged a $2.7 million acquisition loan for a 12,980-square-foot retail building in Marlborough, Massachusetts. Located in Middlesex County, the property currently houses four tenants with Starbucks Coffee as its anchor. Spaces at the property range from 1,500 to 7,466 square feet. Cornerstone delivered a fixed-rate financing structure with a 30-year amortization schedule to the undisclosed borrower. The lender was a local community bank.

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