Atlantic Capital Partners brokers $10.2 million sale of Boston Commons Plaza

Springfield, MA Atlantic Capital Partners has sold Boston Commons Plaza, a 103,494 s/f community shopping center for $10.2 million. Positioned along the city’s principal commercial and retail corridor, Boston Rd., the asset is surrounded by a mix of national and regional tenants that generate daily consumer traffic.

The transaction was led by Justin Smith, head of Capital Markets; Chris Peterson, executive vice president; Danielle Turpin, senior associate; and Matt Ericson, associate. Atlantic Capital Partners exclusively represented the seller in the transaction.

Boston Commons is 98% leased to six high-quality retail tenants, with a stable weighted average remaining lease term of five years. The center is anchored by Kohl’s, whose remaining lease term and recent store improvements underscore both asset and tenant viability. 

Matt Ericson, associate at Atlantic Capital Partners, said, “The sale of Boston Commons represents a unique transaction defined by Kohl’s long-term anchor commitment, highlighting sustained demand for well-positioned, long-term big box retail in productive markets.”

The institutional-quality asset benefits from prime visibility and accessibility on Boston Road, a heavily trafficked thoroughfare seeing over 17,000 vehicles per day. Serving as a critical retail destination for the eastern portion of Springfield, the property offers the buyer a resilient cash-flow stream with built-in upside. Justin Smith, Head of Capital Markets at Atlantic Capital Partners, commented, “Demand remains robust for well-located retail centers with proven tenant performance and permanence. Boston Commons’ strategic positioning along Springfield’s dominant retail corridor, paired with its near-total occupancy, made this a highly attractive acquisition for the purchaser.”