Watertown, Mass. — Seven new tenants have committed to spaces at Arsenal Yards in Watertown, roughly 10 miles outside Boston. Tea One Tea House, Skin Laundry, Restore Hyper Wellness and GNC have recently opened, and Blackbird Doughnuts is scheduled to open this fall. Chip City and Medium Rare have also signed leases at the development, with Chip City scheduled to open later this year.
Middleborough, Mass. — Massachusetts-based Christmas Tree Shops will close all of its roughly 70 stores, reports CNN. Previously, the chain planned to sell, following filing for Chapter 11 bankruptcy in May. Now, all stores will be closed, unless a last-minute buyer comes forward. Formerly, the brand was owned by Bed Bath & Beyond, which sold the concept to Handil Holdings in 2020 and filed for bankruptcy itself earlier this year.
Protective Life Provides $10.5 Million Refinancing for Shopping Center in New Bedford, Massachusetts
New Bedford, Mass. — Protective Life, the Alabama-based holding company of Protective Life Insurance Co., has provided a $10.5 million refinancing for Rockdale Plaza, a 100,015-square-foot shopping center located in New Bedford. Stop & Shop anchors the center. The borrower, Yale Realty Services Corp., acquired the property in 1997.
Framingham, Mass. — Atlantic Capital Partners has arranged the sale of a 64,917-square-foot retail property in Framingham, a western suburb of Boston. Stop & Shop occupies the property, which is situated on 7.6 acres. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the seller and procured the buyer, both of which were not disclosed, in the transaction.
Hyannis, Mass. — WS Development has announced plans for the multi-phase redevelopment of Capetown Plaza, a 26-acre retail center located in Hyannis. Renovations at the property, which was originally constructed in 1968 and will be rebranded as The Landing at Hyannis, will include façade upgrades of the main building, remodeling of interior spaces, the addition of a public green with seating and improvements to lighting, paving, landscaping. The Cape Cod Times reports that a Whole Foods Market will anchor the redeveloped property alongside a new mix of retailers and restaurants. WS Development was …
Dedham, Mass. — JLL Capital Markets has secured a $190 million loan for the refinancing of Legacy Place, a 675,000-square-foot shopping center located in the Boston suburb of Dedham. Whole Foods, Apple, L.L. Bean and Showcase Cinemas anchor the property. Other tenants at the center include Nike, Athleta, Industrious, Shake Shack, Lululemon, Sephora, Sweetgreen and Yard House. Brett Paulsrud, Henry Schaffer, Hugh Doherty, Chris Angelone and Zach Nitsche of JLL arranged the financing through a two-bank syndicate on behalf of the borrowers, WS Development and Nuveen Real Estate.
Hingham, Mass. — Newmark has brokered the $45.2 million sale of Lincoln Plaza, a 127,505-square-foot shopping center located in Hingham, approximately 20 miles outside Boston. A 68,087-square-foot Stop & Shop grocery store and a 31,882-square-foot Marshalls anchor the center, which was 99 percent leased at the time of sale. Robert Griffin, Jon Martin, Paul Penman and Matthew Adler of Newmark represented the seller, AEW, in the transaction and procured the buyer, a subsidiary of Jumbo Capital Inc. Casey O’Brien and Connor Scott of Newmark provided financial analysis support for the deal.
East Longmeadow, Mass. — ShopOne Centers REIT Inc., with joint venture partners Pantheon and an undisclosed institutional investor, has acquired Heritage Park Plaza, a 117,337-square-foot retail center located in East Longmeadow, a suburb of Springfield. Stop & Shop anchors the property, which was 98 percent leased at the time of sale. Other tenants at the center include Petco, Orangetheory Fitness, Panera Bread, Dollar Tree, Pure Barre, 99 Restaurant and Pub and H&R Block.
Hudson, Mass. —Horvath & Tremblay has arranged the $21.9 million sale of Center at Hudson, a shopping center located in Hudson. A 58,266-square-foot freestanding Stop & Shop anchors the property, which includes an additional 26,339 square feet. Bob Horvath and Todd Tremblay of Horvath & Tremblay brokered the sale on behalf of the undisclosed seller and procured the buyer.
Boston — Atlantic Capital Partners, a division of Boston-based Atlantic Realty, has negotiated the $70 million sale of a portfolio of four grocery-anchored retail properties in Massachusetts and Rhode Island. The properties, all of which are master-leased to regional operator Stop & Shop, total 272,542 square feet and are located in the Massachusetts communities of Framingham, Malden and Swampscott, with the fourth in Bristol, Rhode Island. Justin Smith, Chris Peterson and Sam Koonce of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.