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 …
Carver, Mass. — Marcus & Millichap has brokered the sale of an 85,199-square-foot shopping center in Carver, about 45 miles south of Boston. Grocer Shaw’s anchors the property, which was built in 2005. Other tenants include CVS/pharmacy, Anytime Fitness and Jamie’s Fine Wine & Spirits. Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.
Wareham, Mass. — Horvath & Tremblay has negotiated the $7.2 million sale of Wareham Marketplace, a 35,247-square-foot retail center located about 70 miles south of Boston. Aldi anchors the newly constructed property, which is also home to tenants including Dollar Tree, AutoZone, Wendy’s and Mattress Firm. The pad sites occupied by the latter three tenants were not part of the sale and are being marketed separately. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the seller and procured the buyer in the deal.
Bedford, Mass. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $54.5 million sale of Bedford Marketplace, a 153,000-square-foot shopping center in the northwestern Boston suburb of Bedford. Whole Foods Market anchors the center, which also houses tenants such as Marshalls, Cambridge Savings Bank, Bank of America, Brookline Bank, U.S. Post Office, AFC Urgent Care and Lincoln Liquors. Jim Koury of Marcus & Millichap represented the seller, RFPS 181 Owner LLC, and procured the buyer, Ramco Property Acquisitions LLC. Bedford Marketplace was 97 percent leased at …
Woburn, Mass. — Horvath & Tremblay has negotiated the $11 million sale of a 10,646-square-foot, newly built retail property in the northern Boston suburb of Woburn. Walgreens occupies the property and has 14 years remaining on its lease. Peter Butler and Brendan Conway of Horvath & Tremblay represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
Somerville, Mass. — US2, a joint venture between Magellan Development, RAS Development LLC, Cypress Equity Investments and USAA Real Estate, has broken ground on a $2 billion mixed-use project known as USQ in Somerville, just northwest of Boston. The 15-acre, transit-oriented development is situated in the city’s historic Union Square neighborhood at the southeast corner of Somerville Avenue and Prospect Street. An official groundbreaking ceremony took place this morning. Totaling 2.4 million square feet, USQ has been in the making for decades, according to the development team. Plans call for …
Cambridge, Mass. — Outdoor apparel and equipment retailer REI will open an 8,000-square-foot store at Cambridge Crossing, a 43-acre mixed-use development located at the junction of Boston, Cambridge and Somerville. The opening of the store, which is scheduled for this fall, represents the launch of REI’s new small-format prototype. The store will be located in a newly constructed office and retail building. San Francisco-based DivcoWest is the master developer of Cambridge Crossing.
Hudson, Mass. — JLL Capital Markets has arranged the sale of Center at Hudson, an 85,000-square-foot shopping center anchored by Stop & Shop in Boston’s western suburb of Hudson. Nat Heald, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction. The buyer, NNM Realty Trust, acquired the property for an undisclosed price. The center was 96 percent occupied at the time of sale by tenants including Expo Nails, The Paper Store, Sperry’s Liquors and Eye Care Center.
Watertown, Mass. — JLL Capital Markets has arranged the $130 million sale of Watertown Mall, a 260,867-square-foot power center in Watertown, a first-ring suburb just west of Boston. The property is 98 percent occupied by 10 tenants, including Target, Best Buy and the Registry of Motor Vehicles. Situated on 17.8 acres at 550 Arsenal St., Watertown Mall is adjacent to the 1 million-square-foot Arsenal Yards, the mixed-use redevelopment of a former armory. Watertown Mall Associates LP sold the property to Alexandria Real Estate Equities, according to local news outlet Wicked …