Cushman & Wakefield completed the sale of Boston Commons to Cole Credit Property Trust IV, Inc. (CCPT IV) for $9.82 million. Cushman & Wakefield's New England area president Rob Griffin, executive vice president Geoffrey Millerd and associate director Justin Smith oversaw the transaction of the 103,393 s/f asset on behalf of Retail Properties of America, Inc. (RPAI).
Boston Commons is leased to a strong mix of national and local tenants anchored by Kohl's and CVS/Pharmacy. The shopping center is situated on 12 acres with considerable frontage along one of Springfield's primary retail corridors, Boston Rd., which sees in excess of 25,000 vehicles daily.
"The asset has been meticulously maintained by an active institutional owner, which is evident by the property's physical condition and long-term investment-grade anchor tenants," said Smith.