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Massachusetts

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DevelopmentGrocery-anchoredMassachusettsNews

WS Development Underway on Redevelopment of 26-Acre Capetown Plaza in Hyannis, Massachusetts

by Hayden Spiess

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 …

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FinanceGrocery-anchoredMassachusettsNews

JLL Secures $190 Million Refinancing for Shopping Center in Boston Suburb

by Hayden Spiess

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. 

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Grocery-anchoredInvestment salesMassachusettsNews

Newmark Brokers $45.2 Million Sale of Shopping Center in Metro Boston

by Hayden Spiess

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.

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Grocery-anchoredInvestment salesMassachusettsNews

ShopOne Acquires 117,337-Square-Foot Retail Center in East Longmeadow, Massachusetts

by Hayden Spiess

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. 

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Grocery-anchoredInvestment salesMassachusettsNews

Horvath & Tremblay Arranges $21.9 Million Sale of Shopping Center in Hudson, Massachusetts

by Hayden Spiess

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.

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Grocery-anchoredInvestment salesMassachusettsNewsRhode Island

Atlantic Capital Partners Negotiates $70 Million Sale of Retail Portfolio in Massachusetts, Rhode Island

by Hayden Spiess

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.

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Investment salesMassachusettsNet leaseNews

Matthews Real Estate Negotiates $7.7 Million Sale of Retail Property in Middleton, Massachusetts

by Hayden Spiess

Middleton, Mass. — Matthews Real Estate Investment Services has negotiated the $7.7 million sale of a 14,440-square-foot retail property located in Middleton, a northern suburb of Boston. Walgreens occupies the property on a net-lease basis. Grant Korn and Maxx Bauman of Matthews Real Estate represented the seller, Newport Property Corp., in the transaction. A New York-based private investor acquired the asset via a 1031 exchange.

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Investment salesMassachusettsNews

Matthews Brokers $7.7 Million Sale of Walgreens Property in Boston Suburb

by Hayden Spiess

Middleton, Mass. — Matthews Real Estate Investment Services has brokered the $7.7 million sale of a Walgreens property located in Middleton, a northern suburb of Boston. Newport Property Corp. sold the property to a New York-based private investor in a 1031-exchange transaction. Grant Korn and Maxx Bauman of Matthews represented the seller.

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DevelopmentLeasingMassachusettsNewsRestaurants

Teresa’s Ristorante to Open 12,500-Square-Foot Eatery in Boston Suburb

by Hayden Spiess

Woburn, Mass. — Teresa’s Ristorante will open a 12,500-square-foot Italian eatery in Woburn, a northern suburb of Boston. The space, which features private dining rooms and a patio, is currently being renovated, and the restaurant expects to open this spring. John Halsey and Steve Cusano of Cummings Properties represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

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Grocery-anchoredInvestment salesMassachusettsNews

Grossman Development Group Purchases 261,672-Square-Foot Retail Center Near Boston

by Hayden Spiess

Westborough, Mass. — Grossman Development Group (GDG) has acquired Bay State Commons, a 261,672-square-foot retail center located in Westborough, approximately 30 miles west of Boston. Roche Bros. anchors the property, and other tenants include Boston Interiors, Reliant Medical, Boston Ski & Tennis, Ted’s Montana Grill and Panera Bread. GDG purchased the property with a partnership doing business as Baystate Westborough LLC, which includes Mark Reardon. Todd Alexander of Kelleher & Sodowsky handles leasing at the development.

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