Marcus & Millichap completes $7.2 million sale of anchored retail center

Leominster, MA Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, completed the sale of Leominster Plaza, a 20,279 s/f anchored retail center for $7.2 million.

“After considering offers from multiple buyers, we ultimately settled on a buyer with other similar properties in the area,” said Adam Cohen, first vice president investments. “They found the combination of service-oriented tenants, some of whom have corporate-backed leases, very attractive.” 

Cohen and Brett Kilar of the Cohen Group, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller and procured the buyer. 

Located at 20 Commercial Rd., the plaza is on 2.02 acres and is anchored by ConvenientMD, which has more than 13 years remaining on its lease. Other tenants include GEICO, ARA Leominster Dialysis and Kids Care+, all operating under triple-net leases. The property is adjacent to Rte. 2 and is within the largest retail hub in the area, near the 744,000 s/f Mall at Whitney Field and national retailers such as CVS, Starbucks and The Home Depot.