Cushman & Wakefield completed the sale of South Cape Village, to Dividend Capital. The Cushman & Wakefield team, led by president, Robert Griffin; executive vice president, Geoffrey Millerd, and associate director Justin Smith, oversaw the $35.45 million transaction of the Roche Brothers-anchored lifestyle center on behalf of Mashpee Investors, LLC.
"In addition to Roche Brothers, the center features a diverse tenant roster of strong national and regional retailers including Marshalls, Walgreens, Olympia Sports and Santander Bank, making the recently constructed asset very appealing to Dividend," said Millerd.
At 143,477 s/f, South Cape Village is ideally positioned between Falmouth and Barstable/Hyannis along Falmouth Rd. (Rte. 28), one of the region's primary thoroughfares with traffic counts exceeding 28,900 vehicles daily. The site's desirable location is further reinforced by two light-controlled entrances, ample parking and high barriers-to-entry in the immediate trade area.
"The strong performance of the retailers at South Cape Village facilitated significant interest from the investor community and is what ultimately attracted Dividend to add the asset to its already significant portfolio on Cape Cod," said Smith.
South Cape Village has been meticulously maintained by active ownership and has stood as an important fixture of the community since the completion of the first phase of the project in 2004.
Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 248 offices in 58 countries, employing more than 16,000 professionals.
It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management.