Atlantic Capital Partners arranges sale of Quarry Square for $10 million

Milford, MA Atlantic Capital Partners has brokered the sale of Quarry Square, a 56,004 s/f, stabilized neighborhood strip center, anchored by local fitness and restaurant operators. The 8.6-acre property is situated along East Main St., the submarket’s primary corridor connecting Milford to I-495 and the broader regional markets of Boston, Worcester, and Lowell.

The transaction was led by Justin Smith, head of Capital Markets; Chris Peterson, executive vice president; Danielle Turpin, senior associate; and Matt Ericson, associate. Atlantic Capital Partners exclusively represented the sellers, RJ Kelly, in the transaction.

Quarry Square is 100% leased to 17 retail tenants, providing new ownership with immediate stability. “The asset offers an exceptional combination of durable, long-term cash flow and embedded upside,” said Smith. “The center features a diverse, resilient tenant mix with a proven track record of lease renewals. With several leases nearing expiration, incoming ownership has a clear runway to boost net operating income by bringing below-market rents to fair market value upon rollover.”

Situated along the trafficked East Main St. (Rte. 16) off I-495, the site sees traffic counts of 95,000 vehicles per day from the populated local community and surrounding market co-tenants. “Quarry Square’s exceptional location along Milford’s primary commercial artery made this a compelling opportunity for investors,” said Ericson. “The combination of a dense surrounding population supported by multifamily developments, extensive mixed-use industrial/office parks, and strong national co-tenancy ensures long-term value growth for new ownership.”