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Marcus & Millichap Brokers Sale of 12-Screen AMC Theater in Tyngsboro, Massachusetts

by Alex Tostado

Tyngsboro, Mass. — Marcus & Millichap has brokered the $7 million sale of a 12-screen AMC Theater in Tyngsboro, located approximately 35 miles northwest of Boston. Located at 440 Middlesex Road, the 39,474-square-foot theater originally opened in 1991. The building was recently renovated to improve all 12 screening rooms, the roof and the parking lot, and now includes a full bar. Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia of Marcus & Millichap represented the undisclosed seller in the transaction. Russell Wachtler, also with Marcus & Millichap, represented the buyer, a …

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Grocery-anchoredInvestment salesMassachusettsNewsRetailers

JLL Income Property Trust Acquires Milford Crossing Shopping Center in Massachusetts for $42 Million

by Alex Tostado

Milford, Mass. — JLL Income Property Trust, an institutionally managed daily NAV REIT, has acquired Milford Crossing, a 160,000-square-foot shopping center located approximately 40 miles southwest of Boston, for $42 million. A Stop & Shop grocery store anchors the shopping center, which was 99 percent leased to restaurants, medical, fitness and service-oriented retailers at the time of sale. RD Management LLC was the seller.

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Grocery-anchoredInvestment salesMassachusettsNewsRetailers

Crosspoint Associates Buys 81,702-Square-Foot Amherst Shopping Center in Central Massachusetts

by Alex Tostado

Amherst, Mass. — Metro Boston-based investment firm Crosspoint Associates Inc. has purchased Amherst Shopping Center, an 81,702-square-foot retail asset in the central Massachusetts city of Amherst. Built in 1997 and anchored by Big Y Supermarket and CVS, the property was 97 percent leased at the time of sale. Additional tenants include Dunkin’, Goodwill and Supercuts. Nat Heald and Chris Angelone of JLL represented the undisclosed seller in the transaction. The price was not released.

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Investment salesMassachusettsNewsRetailers

Avison Young Brokers $7 Million Sale of Two Retail Properties in Metro Boston

by Alex Tostado

Needham and Newton, Mass. — Avison Young Commercial Real Estate has brokered the $7 million sale of two retail properties in Needham and Newton, two western suburbs of Boston. The property in Needham, a 15,609-square-foot retail center located at 238 Highland Ave., is leased to Needham Montessori School, Mandarin Cuisine Restaurant and Needham Nail & Spa. The property in Newton, a 3,588-square-foot building located at 106 Needham St., is leased to fitness equipment distributor Gym Source. Brandon Dickinson of Avison Young represented the seller, Terrazzino Investment Trust, in the transaction. …

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Company newsMassachusettsNewsRetailers

Bose to Close All Remaining U.S. Stores

by Alex Tostado

Framingham, Mass. — Bose Corp. will close all of its 54 stores in the U.S., as well as many remaining locations in Australia, Japan and Europe in the coming months, totaling 119 brick-and-mortar locations. The Framingham-based company, which specializes in audio engineering, said the closures are due to “dramatic” shifts to online shopping. Bose opened its first store in 1993 and currently has its biggest concentration of stores in the Northeast (10), Southern California (nine) and Florida (seven). “Originally, our retail stores gave people a way to experience, test and talk …

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Investment salesMassachusettsNewsRetailers

Linear Retail Acquires 6,291-Square-Foot Retail Property in Cambridge, Massachusetts

by Alex Tostado

Cambridge, Mass. — Linear Retail Properties LLC has acquired a 6,291-square-foot retail store property comprising three adjacent buildings in the Porter Square Neighborhood of Cambridge, a northwestern suburb of Boston, for $3.6 million. Located at 1755-1761 Massachusetts Ave., the property is fully leased to The Abbey Irish Pub, One Ramen & Sushi, The Laundry Room and Judy Jetson hair salon. Anthony Bruno and Kerry Dowlin of Gibson Sotheby’s International Realty brokered the transaction. The seller was undisclosed.

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FinanceMassachusettsNewsRetailers

JLL Arranges $7.5 Million Refinancing of Retail Center in Newburyport, Massachusetts

by Alex Tostado

Newburyport, Mass. — JLL has arranged a $7.5 million refinancing loan for Pond Street Mall, a 28,164-square-foot retail center in Newburyport, located approximately 40 miles north of Boston. Centreville Bank provided the fixed-rate, non-recourse loan to the borrower, Quincy & Co., which will use the proceeds to repay an existing loan. CVS anchors the retail center and other tenants include Young Women’s Christian Association and Panda Dry Cleaners. Lauren O’Neil and Martha Nay of JLL represented Quincy & Co. in arranging the loan. Craig Schermerhorn represented Centreville Bank on an …

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Investment salesMassachusettsNewsRetailers

Winstanley Enterprises, Surrey Equities Sell Wonderland Marketplace in Metro Boston for $24.1 Million

by Alex Tostado

Revere, Mass. — Winstanley Enterprises and Surrey Equities have sold Wonderland Marketplace, a 139,507-square-foot shopping center in Revere, for $24.1 million. The shopping center is anchored by Marshalls, Big Lots and Planet Fitness and is adjacent to the Massachusetts Bay Transportation Authority Wonderland Station. The property is located at 151 VFW Parkway, five miles northeast of downtown Boston. Nat Heald and Chris Angelone of JLL represented the sellers in the transaction. Urban Edge Properties purchased the asset.

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Investment salesMassachusettsNewsRetailersTexas

Spirit Realty Capital Acquires 123 Single-Tenant Retail Properties from Service Properties Trust for $435 Million

by Alex Tostado

Newton, Mass. and Dallas — Spirit Realty Capital Inc., a net-lease REIT based in Dallas, has purchased a national single-tenant retail portfolio for $435 million. The portfolio’s seller is Service Properties Trust, a net-lease retail and lodging REIT based in the western Boston suburb of Newton. The portfolio spans 26 states and includes 123 stores leased to 54 different concepts. About a third of the portfolio is leased to restaurants, including Wendy’s, Buffalo Wild Wings, KFC, Skyline Chili, Burger King, Rally’s and Popeye’s. The portfolio’s tenant roster also includes service-oriented …

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Grocery-anchoredInvestment salesMassachusettsNewsRetailers

RK Centers Acquires Grocery-Anchored Property Near Boston for $19.5 Million

by Alex Tostado

Stoughton, Mass. — RK Centers has acquired a shopping center in Stoughton, located approximately 20 miles south of Boston, for $19.5 million. A 59,987-square-foot Stop & Shop grocery store anchors the 79,300-square-foot center, which also houses tenants such as Bank of America, Care Central Urgent Care and Andrade’s Liquors. Nat Heald, Chris Angelone and Jessica Dowd of JLL represented the seller, Katz Properties Retail, in the transaction.

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