Boston — SVN | Parsons Commercial Group has brokered the $7 million sale of a portfolio of four retail buildings totaling 15,181 square feet in Massachusetts. Rockland Trust occupies each of the buildings, which are located at 40 Austin St. in Newton, 1290 Main St. in Waltham, 4 N. Main St. in Bellingham and 231 E. Central St. in Franklin. The buyer and seller were not disclosed. Marilyn Santiago of SVN | Parsons Commercial Group brokered the deal.
Watertown, Mass. — Equity Industrial Partners has purchased a 69,000-square-foot retail building that is net leased to grocer Stop & Shop in Watertown, a western suburb of Boston. The sales price was $35.5 million. Stop & Shop has occupied the building for more than 25 years and recently extended its long-term lease. JLL represented the seller, a partnership between Winstanley Enterprises and Surrey Equities LLC, in the sale and procured Equity Industrial as the buyer.
Saugus, Mass. — JLL has arranged a $33.5 million loan for the refinancing of Saugus Plaza Shopping Center, a 208,500-square-foot retail power center in the northern Boston suburb of Saugus. The property spans 16 acres along Route 1 and houses tenants such as Petco and Kohl’s. John Fowler, Chris Angelone, Brett Paulsrud and Amy Lousararian of JLL placed the fixed-rate loan through HarborOne Bank and Salem One on behalf of the borrower, locally based development and management firm Finard Properties.
Canton, Mass. — A subsidiary of Joyal Capital Management (JCM) has sold a portfolio of 14 Dunkin’ stores located throughout the Boston area in a transaction valued at $44 million. The buyer was Northern Management Group, a franchisor of hotel, convenience store and restaurant concepts that operates more than 100 properties in the Northeast. JCM also recently closed on the sale of 61 Dunkin’ stores in Southeast Florida to an undisclosed purchaser.
Dartmouth, Mass. — German discount grocer Aldi will open a 21,000-square-foot store at Dartmouth Mall in southeastern Massachusetts in the fourth quarter. Aldi will backfill a space previously occupied by Sears and will join Burlington, Old Navy, H&M and Five Below as some of the largest tenants at the property. Pennsylvania Real Estate Investment Trust (PREIT) owns Dartmouth Mall.
Framingham, Mass. — Locally based investment firm RK Centers has acquired an 80,000-square-foot grocery-anchored shopping center in the western Boston suburb of Framingham for $23 million. Stop & Shop is the grocer that anchors the property, which is located just off Exit 13 of the Massachusetts Turnpike. Geoffrey Millerd of Newmark represented the seller, a joint venture led by Florida-based shopping center REIT Regency Centers, in the transaction.
Maynard, Mass. — Market Basket has opened a 69,374-square-foot grocery store within Maynard Crossing in Maynard. The 730,000-square-foot mixed-use development is home to other retail tenants such as Eco Nails & Spa, Planet Fitness and Maynard Wine & Spirits. Capital Group Properties broke ground on Maynard Crossing in 2019. Other uses include The Vue at Maynard Crossing, a 180-unit multifamily community; Camellia Gardens, a 143-unit seniors housing community; Emerson Hospital Urgent Care; and outdoor spaces such as water features, a dog park, walking paths and green space.
Swampscott, Mass. — Regency Centers, a Florida-based shopping center REIT, has sold a 35,907-square-foot retail building leased to Whole Foods Market in Swampscott, about 30 miles northeast of Boston. The sales price was $19.2 million. Whole Foods has occupied the building, which sits on roughly five acres, for more than 15 years. Chris Angelone, Nat Heald and Eric Suffoletto of JLL represented Regency Centers in the transaction and procured the buyer, locally based investment firm Academy Hill Realty.
Mansfield, Mass. — Newmark has arranged the $25 million sale of a 74,383-square-foot shopping center located at 377 Chauncy St. in Mansfield, a southern suburb of Boston. Grocer Stop & Shop anchors the property, which is situated on nine acres along Route 140. Robert Griffin, Geoffrey Millerd, Paul Penman and Mat Adler of Newmark represented the undisclosed seller and procured the buyer, Bailard Real Estate Fund, in the transaction.
Wilbraham, Mass. — FIC Restaurants Inc., a restaurant company that operates the Friendly’s brand, has filed for Chapter 11 bankruptcy and entered in an agreement to sell all of its assets to Amici Partners Group LLC. Nearly all of Friendly’s 130 corporate-owned and franchised restaurant locations, known for burgers, sandwiches and ice cream, are expected to remain open subject to COVID-19 limitations. Friendly’s stated that it has sufficient cash on-hand to continue operations, meet its obligations to employees, franchisees and vendors. Upon the sale closing, Amici expects to retain most employees at …