Belchertown, Mass. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $14.6 million sale of a 56,832-square-foot retail property occupied by Stop & Shop in Belchertown, roughly 18 miles outside Springfield. The buyer and seller were not disclosed. Jim Koury and Marty Cohan of IPA brokered the deal.
Natick, Mass. — An affiliate of Bulfinch Cos., in partnership with Harrison Street, has purchased a 94,000-square-foot retail property in the western Boston suburb of Natick. Neiman Marcus currently occupies the two-story building, which is contiguous to Brookfield Properties’ Natick Mall, but plans to vacate the space in September. The new ownership plans to redevelop the property but did not share specific plans.
Braintree, Mass. — Sterling Organization has purchased Tedeschi Plaza, a 174,344-square-foot retail center in the southern Boston suburb of Braintree, for $44.3 million. A 66,124-square-foot Stop & Shop grocery store anchors the property. Additional tenants include CVS/pharmacy, Crunch Fitness, Sherwin Williams, Dunkin’ and Citizens Bank. JLL represented the seller, Black Creek Group, in the transaction.
Easton, Mass. — Atlantic Capital Partners has arranged the sale of Highland Plaza, a 112,869-square-foot shopping center in Easton, located about 30 miles south of Boston. Regional grocer Big Y anchors the property, which was 96 percent leased at the time of sale, with a 56,519-square-foot store. Other tenants include T.J. Maxx and Liberty Mutual. Justin Smith, Chris Peterson, Sam Koonce, Molly Lynch and Ben Starr of Atlantic Capital Partners represented the seller, Phillips Edison & Co., in the deal. The team also procured the undisclosed buyer.
Boston — Wayfair will open three brick-and-mortar stores in the Boston area in 2022. The first two stores will be located within open-air centers owned by WS Development in Lynnfield and Dedham, and will carry the company’s AllModern brands. The third store will be located within Simon Property Group’s Burlington Mall and will carry the company’s Joss & Main brand. Wayfair plans to open more stores to support other brands over the next two years.
Sharon, Mass. — Burn Boot Camp has opened in a 5,000-square-foot space at Sharon Marketplace, a 103,000-square-foot grocery-anchored retail center owned by Capital Group Properties in Sharon. The shopping center is fully leased to tenants including Shaw’s Grocery Store, Liquor World, Dunkin’, Citizens Bank, KinderCare Childcare Services, TT Nail Salon, Kumon Learning Center and Marathon Physical Therapy.
Boston — New England Development, in partnership with Stop & Shop, Bozzuto and Southside Investment Partners, will soon break ground on Allston Yards, a 1.2 million-square-foot mixed-use project in the Allston neighborhood of Boston. The site currently houses an older but still-operating Stop & Shop store and parking lots, which will be redeveloped. Built in multiple phases, Allston Yards will feature a 165-unit apartment building; a new Stop & Shop grocery store; 117,000 square feet of retail and restaurant space; 350,000 square feet of office and lab space; and a …
Waltham, Mass. — Floor & Décor will open a 70,000-square-foot store at 80 Second Ave. in the western Boston suburb of Waltham on Thursday, Sept. 23. The store, which will be the retailer’s third location in Massachusetts, will include warehouse space and a design center. Floor & Décor has hired about 50 full- and part-time associates to work at the store.
Dedham, Mass. — RPT Realty is under contract to purchase a 510,000-square-foot, grocery-anchored shopping center in Dedham near Boston for $131.5 million. Stop & Shop is the anchor tenant. Other tenants at the property, which is nearly 92 percent occupied, include TJ Maxx, Dick’s Sporting Goods, Starbucks Coffee and Chipotle Mexican Grill. The acquisition is expected to close in the fourth quarter. R2G Venture LLC, RPT’s joint venture platform focused on grocery-anchored assets, will be utilized to acquire the property.
Lynnfield, Mass. — Marcus & Millichap has brokered the $19.5 million sale of a 64,056-square-foot shopping center in Lynnfield, a northern suburb of Boston. The property consists of three buildings, including one that was built in 1991, remodeled in 2019 and is occupied by Christmas Tree Shops, as well as two others that were completed in 2018. Other tenants include Yankee Candle, Meraki Spa, Starbucks Coffee and East Boston Savings Bank. Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia of Marcus & Millichap brokered the deal. The buyer and seller were …