NGKF completes $33.5 million sale of Brookside Shops in Acton

Brookside Shops - Acton, MA

Acton, MA NGKF Capital Markets has completed the sale of Brookside Shops to Clarion Partners for $33.5 million. Executive managing director Geoffrey Millerd, managing director Justin Smith, associate director Paul Penman and financial analyst Christopher Peterson of the NGKF Capital Markets Boston team, which is led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction of the grocery-anchored lifestyle center on behalf of TH Real Estate (a division of TIAA Global Asset Management).

Geoffrey Millerd, NGKF Capital Markets

Justin Smith, NGKF Capital Markets

Paul Penman, NGKF Capital Markets

“We purchased the property in 2006 and have maintained very strong occupancy with the goal of providing stable and consistent cash flow with an excellent return profile. The best-in-class tenancy and compelling location added downside protection,” said Todd Rollins, senior director of TH Real Estate.

Totaling 75,781 s/f, Brookside Shops is 100% leased to a high-performing national tenant roster. The property is anchored by major national grocer Trader Joe’s and complemented by a synergistic mix of luxury lifestyle tenants.

“The presence of Trader Joe’s, which generates consistent daily traffic and draws shoppers from a wide distance, and significant concentration of premier lifestyle retailers in an area that has a notable lack of fashion-based shopping options combines to create a truly vibrant asset,” said Millerd.