Platinum Team sells 95,600 s/f Dudley Plaza for $4.6 million

According to Laurence Ross, senior executive broker with the Platinum Team, the company has completed the sale of Dudley Plaza, a 95,600 s/f shopping center located at 414 Airport Rd., to a group of NYC based investors. Located on 13 acres, this neighborhood center is well anchored by Park & Shop Supermarket since 1968, along with other major tenants such as Big Lots, Grossmans and Family Dollar. The property has undergone significant capital improvements over the last 5 years and is well positioned to capitalize on the surrounding developing area. Just north of the Conn. border in Southern Worcester County, off I-395, the center offers visibility, highway access and parking. The property sold for $4.6 million at an approximate cap rate of 7.5 %. The seller was Daniel Katz of Katz Properties.