Newmark Brokers $20.1 Million Sale of Retail Center in Cambridge, Massachusetts

Cambridge, Mass. — Newmark has brokered the $20.1 million sale of Porter Square Galleria, a retail center located in Cambridge. A 28,893-square-foot Target anchors the property, which totals 55,610 square feet and was 96 percent leased at the time of sale. Other tenants at the center include One Medical, Anna’s Taqueria and Citizens Bank. Robert Griffin, Jonathan Martin and Paul Penman of Newmark represented the undisclosed seller and secured the buyer, Crosspoint Associates, in the transaction. David Douvadjian Sr., Timothy O’Donnell, David Douvadjian Jr. and Conor Reenstierna of Newmark arranged acquisition financing on behalf of Crosspoint. Casey O’Brien of Newmark provided financial analysis support for the sale.