Mansfield, MA Newmark orchestrated the $25 million sale of 377 Chauncy St., a 74,383 s/f shopping center master leased by Stop & Shop. Newmark co-head of U.S. capital markets Robert Griffin, vice chairman Geoffrey Millerd and director Paul Penman, in cooperation with managing director Mat Adler, of the firm’s Boston and Mid-Atlantic capital markets groups represented the seller and procured the buyer, Bailard Real Estate Fund.
Located on more than nine acres, 377 Chauncy St. includes a Stop & Shop grocery store, a Stop & Shop gas pad, multiple inline sublease tenants and more than 400 parking spaces.
“377 Chauncy Street’s grocery anchor, gas pad and inline tenants benefit from strong synergies with one another, generating consistent traffic for the property,” said Millerd. “The asset further benefits from a highly visible corner location at a signalized intersection and along a major commercial corridor.”
377 Chauncy St. is situated along Rte. 140, near the intersection of I-95 and 495 and 30 miles southwest of Boston. According to Newmark Research, within a five-mile radius of the property, the population count is 70,900 people with an average annual household income of $118,100.