Boston — WS Development has unveiled plans for the redevelopment of The Street, a retail property in Boston’s Chestnut Hill neighborhood. The centerpiece of the project will involve the repositioning of the three-story, 90,000-square-foot building at 27 Boylston St. to house new retailers and restaurants, as well as office space and outdoor communal areas. The project team will also upgrade the existing landscaping, architecture and public spaces. WS Development is designing the project in partnership with global architecture firm Sasaki. Completion is slated for 2023.
Massachusetts
Beverly, Mass. — Aubuchon Realty Co. (ARC) has acquired Dodge Crossing, a 21,350-square-foot retail center located in the Boston suburb of Beverly, for $6.6 million. Citizens Bank and Mattress Firm anchor the property, which was constructed in 1973 at the intersection of Enon Street and Dodge Street. The seller in the all-cash transaction was undisclosed.
Abington, Kingston and Orleans, Mass. — Atlantic Capital Partners, a division of Atlantic Retail, has arranged the $84.2 million sale of three shopping centers located on the southern outskirts of Boston. The properties in Abington, Kingston and Orleans are all anchored by grocers and were collectively 97 percent leased at the time of sale. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
Partnership Breaks Ground on 16.2 Million-Square-Foot Mixed-Use Redevelopment of Suffolk Downs Racetrack Near Boston
Revere, Mass. — The HYM Investment Group, Cathexis and National Real Estate Advisors have broken ground on the redevelopment of the former racetrack site at Suffolk Downs in Revere, about five miles north of Boston. The project will ultimately span 16.2 million square feet of development, including 10,000 apartments and condominiums; 5.2 million square feet of life sciences and office space; 450,000 square feet of retail and civic space; and 40 acres of parks and open space. The Suffolk Downs thoroughbred racetrack opened in 1935 and was shuttered in 2019. HYM …
Wilder, TA Realty Acquire Shopping Center Portfolio in Massachusetts, Rhode Island for $390 Million
Boston — A partnership between Wilder Cos. and TA Realty has acquired a portfolio of nine grocery-anchored shopping centers totaling 729,437 square feet for $390 million. Eight of the properties are located in Massachusetts, and one is located in Rhode Island. At the time of sale, the portfolio was 95 percent leased, with grocers such as Whole Foods Market, Shaw’s, Star Market and Dave’s Fresh Marketplace serving as anchor tenants. Robert Griffin, Geoffrey Millerd, Jonathan Martin, Paul Penman and Mathew Adler of Newmark represented the undisclosed seller and procured the buyer …
Hyannis and Falmouth, Mass. — Newmark has arranged the sale of two retail centers on Cape Cod for a combined total of $120 million. Dispositions include Southwind Plaza, a 258,110-square-foot, Home Depot-anchored shopping center in Hyannis; and Falmouth Landing, a 279,989-square-foot retail center anchored by Walmart in Falmouth. Southwind Plaza was fully leased at the time of sale to tenants including Whole Foods Market, Kohl’s, Bed Bath & Beyond and Ethan Allen. Additional tenants at Falmouth Landing include Shaw’s Supermarket, TJ Maxx, Michaels and HomeGoods. Robert Griffin, Geoffrey Millerd, Jonathan Martin …
Billerica, Mass. — PROCON has broken ground on the redevelopment of Billerica Mall on the northern outskirts of Boston. Development plans include the demolition of an 84,000-square-foot structure that was vacated by Kmart several years ago and the construction of a new 43,000-square-foot grocery store at that site. In addition, the development team, which is led by an entity doing business as F.B. Billerica Realty Investors LLC, will deliver 18,000 square feet of new restaurant space and upgrade the property’s signage, landscaping and utility systems. Lastly, the project team will …
Wellesley, Mass. — Linear Retail Properties has acquired two commercial properties in Wellesley, about 17 miles from Boston, for a combined price of $12.2 million. The first building spans 11,000 square feet of retail, office and residential space, while the second building comprises 6,000 square feet of retail space. Marilyn Santiago of SVN | Parsons Commercial Group represented the undisclosed seller in the transaction.
Wellesley, Mass. — Linear Retail Properties has acquired two buildings totaling 17,000 square feet in Wellesley, located 17 miles from Boston, for a combined price of $12.2 million. The two-story building at 25-35 Central St. houses 8,500 square feet of retail space that is leased to Footstock, Laurel Grove, Marika’s Salon, Skinscapes and Winston Flowers, as well as 2,500 square feet of residential space. The building at 53-61 Central St. spans 6,000 square feet of retail space that is leased to Cocobeet, Eileen Fisher, Lacrosse Unlimited, O’Neil Jewelers and Wellesley …
Peabody, Mass. — Boutique fitness operator Gymja Warrior has signed a 11,345-square-foot retail lease at Route One Marketplace in Peabody, 23 miles from Boston. Other tenants at the fully leased center include Bradford Carpet One, Namco, Crossfit 128 and Mass Bay Hockey Center. Don Mace of KeyPoint Partners represented the undisclosed landlord in the lease negotiations.