The Boston office of CBRE's National Retail Investment Group (NRIG) completed the sale of Super Stop & Shop Plaza located at 278-286 Washington St. (Rte. 138). The 79,297 s/f super market-anchored shopping center is located 20 miles from Boston.
The CBRE team of Chris Angelone, Jim Koury, Bill Moylan, Nat Heald, Josh Klimkiewicz and Matt Pullen represented the seller, Invesco Real Estate, and procured the buyer, Katz Properties. The shopping center closed for $15.4 million.
"Super Stop & Shop Plaza is a great example of a secondary core asset," said CBRE's Chris Angelone. "Katz Properties should take great comfort from the fact that 90% of the income is attributable to Stop & Shop, New England's dominant grocer, and Bank of America, the country's leading consumer bank."
About CBRE/New England
CB Richard Ellis - N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2011 revenue). The company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.