Framingham, Mass. — New York City-based Urban Edge Properties (NYSE: UE) has closed on a $123.6 million interest-only mortgage for a portion of Shoppers’ World, a 752,000-square-foot super regional power center located in Framingham, a western suburb of Boston. The four-year Secured Overnight Financing Rate (SOFR) loan was swapped and converted to a 5.12 percent fixed interest rate. The company then used a portion of the proceeds from the financing to pay off the $90 million outstanding balance on its line of credit with its original 5.48 percent interest rate. …
Dartmouth, Mass. — PREIT has signed leases with five new tenants at Dartmouth Mall, a 671,000-square-foot regional mall in Dartmouth. Western and work wear retailer Boot Barn will open a 15,000-square-foot store this fall as its first location in the area. Locker Room by Lids expects to open at the end of the month, while Chick-fil-A plans to open as an outparcel at the property later this year. Cinnabon and Carvel have already opened. These additions follow the redevelopment of the former Sears space, which is now occupied by Ulta Beauty …
Leominster, Mass. — Marcus & Millichap has brokered the sale of Leominster Plaza, a 20,279-square-foot retail center located in Leominster, approximately 42 miles northwest of Boston. The center is anchored by a ConvenientMD Urgent Care clinic, which has more than 13 years remaining on its lease. Other tenants at the property include ARA Leominster Dialysis, GEICO and Kids Care+. Adam Cohen and Brett Kilar of the Cohen Group, a division of Marcus & Millichap, marketed the property on behalf of the seller and procured the buyer in the transaction.
Wareham, Mass. — Horvath & Tremblay have arranged the $6.8 million sale of Wareham Marketplace, a two-center retail property located in Wareham, roughly 45 miles east of Providence. Aldi anchors a 29,910-square-foot strip center that includes tenants Dollar Tree and Kadrmas Eye Care of New England. An additional 5,337-square-foot strip includes tenants UPS, Jersey Mike’s, Mimi’s Nails and Glow Tanning. The center also features three freestanding retailers — AutoZone, Wendy’s and Mattress Firm — that were not included in the transaction. Bob Horvath and Todd Tremblay represented the seller and …
Peabody, Mass. — Simon Property Group has completed the redevelopment of Northshore Mall located in Peabody, roughly 15 miles northeast of Boston. The shopping center is now home to 140 specialty retailers, dining options and entertainment experiences. New tenants that have either recently been announced or have already opened include a 116,000-square-foot Life Time Fitness, as well as Arhaus and L.L. Bean. Interactive gaming experience Immersive Gamebox, Golf Lounge 18 and Gametime Lanes & Entertainment — which offers bowling and other games in addition to food and drink — are …
North Attleboro, Mass. — Atlantic Capital Partners has arranged the $18 million sale of Lantern Plaza, a 71,297-square-foot shopping center located in North Attleboro, approximately 38 miles southwest of Boston. Renovated in 2018, supermarket chain Stop & Shop has anchored and leased the property since 1993; the center now also houses Asian restaurant New Shogun. Justin Smith, Chris Peterson, Sam Koonce and Danielle Turpin of Atlantic Capital Partners represented the seller in the transaction. Additional terms of the sale were not disclosed.
Dedham, Mass. — Madison International Realty has purchased a 50 percent ownership stake of Legacy Place, a 580,000-square-foot shopping center located in the Boston suburb of Dedham, from Nuveen Real Estate. As part of the recapitalization, Madison joins a partnership with WS Development, who has held a 50 percent ownership stake and managed the center since its opening in 2009. Chris Angelone, Zach Nitsche and Hugh Doherty of JLL’s Investment Sales and Advisory team represented Nuveen Real Estate in the transaction. The center — which is situated on 37 acres …
Burlington, Mass. — Burlington Mall, a 1.3-million-square-foot shopping center located in the Boston suburb of Burlington, has announced that 10 new tenants will be joining the center’s lineup this year. A mix of retail and restaurant concepts including Kendra Scott, PacSun and Ten One Tea House will be opening in late spring, while a second wave of leases — Rowan, Van Leeuwen, Tobu, Sergeant Burgers and J7 Adventureland — plan to make their arrival in the summer. Asian restaurant concept ChoCho Hot Pot is set to open later in the …
Stow and Yarmouth, Mass. — Atlantic Capital Partners has arranged the $26 million sale of two grocery-anchored shopping centers in Massachusetts. The properties include Stow Shopping Center in the Boston suburb of Stow and Yarmouth Shopping Center in Yarmouth. Justin Smith, Chris Peterson, Sam Koonce, Danielle Donovan and Matt Austin of Atlantic Capital Partners represented the seller and procured the buyer, an undisclosed Canadian entity, in the transaction. Stow Shopping Center is anchored by Shaw’s Supermarket and spans 124,405 square feet. The property was 90 percent leased at the time …
Southbridge, Mass. — Chozick Realty Inc. has facilitated the $11.1 million sale of Southbridge Fair, a 113,500-square-foot retail property located in Southbridge. Big Y World Class Market anchors the center, which was originally built on 13 acres in 1972 and renovated in 1996. The shopping center was fully leased at the time of sale. Additional tenants at the property include Advance Auto Parts, Aubuchon Hardware, McDonald’s, Family Dollar and Great Clips. Tom Boyle of Chozick Realty represented the undisclosed seller and procured the buyer in the transaction.
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