Acton, MA Newmark Knight Frank (NKF) has completed the sale of Powder Mill Plaza in Acton, Massachusetts to Medipower for $16.3 million. Executive managing director Geoffrey Millerd, managing director Justin Smith, associate director Paul Penman and financial analyst Christopher Peterson of NKF’s Boston Capital Markets team, which is led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction of the grocery-anchored shopping center on behalf of Atlantic Management.
Totaling 74,876 s/f, Powder Mill Plaza is anchored by Stop & Shop. Other tenants include Rite Aid, Anytime Fitness, DCU, Papa Gino’s and Dunkin’ Donuts.
“As evidenced by its strong tenant sales and average tenure of 18 years, Powder Mill Plaza features an ideal location to serve the surrounding population,” said Smith. “Additionally, the center benefits from limited grocery competition, which enables its anchor tenant to draw from an expansive trade area.”
Powder Mill Plaza is well situated with prominent frontage along Rte. 62, a major local thoroughfare with an average daily traffic count of 15,500 vehicles.