Milford, NH On behalf of LNR as special servicer, JLL’s Retail Capital Markets team completed the sale of Lordens Plaza to Seattle-based Bridge33 Capital for an undisclosed amount.
As stated by JLL executive vice president Nat Heald, “We appreciate the opportunity to facilitate this transaction between two exceptional organizations. Bridge33 closed all cash and moved quickly and decisively through the process to acquire an established asset in a growing market. Similarly, LNR, in their role as special servicer, was an excellent steward of the property during their ownership and was rewarded with a strong purchase price.”
Lordens Plaza is a 148,102 s/f grocery-anchored shopping center at the intersection of state Rtes. 101 and 101A. Lordens Plaza is home to a Shaw’s Supermarket, the only grocery store within a 5-mile radius, as well as a diverse mix of in-line tenants including Rite Aid and Fresenius Medical Care.
Bryce Peterson, COO of Bridge33 Capital said, “With its strong location, a top performing Shaw’s, and a host of other established businesses, Lordens Plaza is the premier retail center in Milford. Our team is excited to continue to improve the property and to bring new tenants to the center.”
Heald and managing director Chris Angelone led the JLL team on the transaction.