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Coastal Partners sells two single tenant retail properties totaling $25.5 million

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Haverhill, MA Coastal Partners through its development subsidiaries has sold two, single tenanted, retail properties totaling $25.5 million: BJ Wholesale Club in Haverhill, and Walgreen's Pharmacy in Hooksett, N.H.
The Haverhill BJ's Wholesale property is located on Shelley Rd., on a fourteen acre parcel off exit 48, at Ward Hill / 125 Connector. The site was originally developed as a 175,000 s/f industrial building which was raised for a prototypical 119,000 s/f BJ's Wholesale Club with gas facility. The ...

Clough of Fantini & Gorga arrange $3.4 million loan for Sears Plaza

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Ashland, MA Fantini & Gorga arranged a $3.4 million permanent loan for Sears Plaza, a 36,000 s/f, multi-tenanted shopping center, anchored by Sears Appliance & Hardware. The plaza is located at the intersection of Pond St. (Rte. 126) and Eliot St. in a commercialized area of the town.
"The property benefits from good historical occupancy and is a long-term hold for our client," said Wayne Clough, managing director of Fantini and Gorga, who arranged the financing and was assisted in the ...

Linear to acquire Walgreen's Plaza and 870 Providence Hwy. - $12.6m

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Dedham, MA Linear Retail Properties, LLC recently completed the first phase of a transaction under which it will soon own two additional Mass. retail properties. Linear Retail has agreed to purchase a 26,101 s/f shopping center in Stoughton, and a 5,340 s/f freestanding retail building in Dedham for $12.6 million. The company has master leased both properties and plans to close on the purchase in early 2009.
The Stoughton acquisition is a 26,101 s/f, multi-tenant strip center located on Rte. 138 known as ...

Retail sales jump largest amount in 6 months: 1% Boston, MA Retail sales jumped by the largest amount in six months in May as 57 million economic stimulus payments helped offset the headwinds buffeting consumers.

The Commerce Department reported that retail sales soared 1% last month, the biggest increase since November. A wide variety of retailers enjoyed a good month, including the biggest increase at department stores and other general merchandise stores in a year.
The May increase was double what economists had been expecting and indicated that the ...

Regency Centers names tenants at the Shops at Saugus - $35m project

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Saugus, MA Regency Centers, a national owner, operator and developer of grocery-anchored and community shopping centers, has named its key merchants at Shops at Saugus, a $35 million community shopping center on Rte. 1 at the location of the former Caruso's Diplomat function hall. Regency closed on the shopping center site in Sept. 2006 with partner Jay Donegan of J. Donegan Co. Donegan played a key role in the acquisition of the site and helped to guide the project through the predevelopment process. ...

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