Ashland, MA Atlantic Capital Partners has completed the sale of Shaw’s Plaza, a grocery-anchored shopping center. The asset, which traded for $21.223 million is anchored by a top-performing Shaw’s Supermarket and located in one of the most desirable locations in the trade-area given the property’s positioning within the submarket. Justin Smith, head of capital markets; Chris Peterson, executive vice president of capital markets; Sam Koonce, vice president; and Danielle Donovan, senior analyst, oversaw the transaction which had Atlantic Capital Partners exclusively representing the seller and procuring the buyer. 

Totaling 99,601 s/f, Shaw’s Plaza is presently 94% occupied by a mix of local and national retail tenants. The asset has been anchored by Shaw’s Supermarket since 1999 when the grocery took occupancy and has historically performed well. Making up for 89% of the gross leasable area, national retailers offer new ownership surety of cash flow and daily traffic generation for the ancillary tenancy. 

Smith said, “Due to the barriers to entry in the submarket and its ideal positioning, Shaw’s Plaza has realized exceptional tenant retention over the years.” 

Shaw’s Plaza is well positioned in Middlesex County serving the dense population of Framingham and the neighboring communities. The asset is located on Rte. 126, which combined with Pond St., is finalizing construction on a $17 million project to enhance the roadways, sidewalks, and bicycle/pedestrian traffic which will benefit the community and allow for future development.

Peterson said, “The near complete public infrastructure project will enhance accessibility and continue to promote development in this immediate submarket, as evidenced by the completion or approvals of recent projects.”