News:
Brokerage
Posted: October 21, 2010
Halprin of New England Retail Properties sells Royal Sq. shopping center for $9.2 million
New England Retail Properties, Inc., has brokered the sale of Royal Square, the 103,000 s/f neighborhood shopping center on Putney Rd. (Rte. 5), to a Boston investment group for $9.2 million.
Matt Halprin, principal and exclusive broker for the property represented the seller, CA Investment Trust based in Andover, Mass. The seller acquired the property in 2000 and renovated and upgraded the center which was originally built in 1974. The major tenants include Peebles Department Stores, Staples, Dollar Tree, Olympia Sports, Consumer Auto, Label Shopper, Sleepys, two restaurants and an eight screen movie theater.
The property has been marketed and leased by New England Retail Properties since 2000.
The buyer, Royal Plaza LLC, is based in Cambridge, Mass. and is an investor in many shopping centers and office buildings in the New England area. Royal Plaza LLC is an affiliated company of Unison Realty Partners. Kareen Fadel is president and Joe Molle, director of acquistions, facilitated the acquisition for the buyer.
New England Retail Properties, Inc. was co-founded in 1987 by partners Mark D'Addabbo and Matt Halprin and specializes in shopping center investment sales and retail property leasing and tenant representation.
MORE FROM Brokerage
Goldberg of Spire Investments purchases Beverly portfolio for $9.2m
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.