Regazzini of Combined Properties enter 11,800 s/f lease to CVS/pharmacy

Rendering of CVS/pharmacy - Malden, MA

Malden, MA Combined Properties, Inc. has entered into a long-term ground lease with CVS/pharmacy for a 1.25 acre site located at the intersection of Rte. 60 and Ferry St. in the central business district. The property was the former home of Ruderman’s Furniture, a high-quality, family owned business that operated at the Ferry St. location for several decades.

CVS/pharmacy took possession of the site in June and has commenced construction of an 11,800 s/f store which will feature all of the high -quality products and services CVS customers have come to expect, including a full service pharmacy staffed by highly-trained pharmacists and knowledgeable pharmacy support staff, convenient drive-thru pharmacy service, an extensive selection of health, beauty and personal care products, general merchandise and a digital photo center. CVS/pharmacy is scheduled to open its new store by the end of the fourth quarter.

Greg Regazzini, Combined Properties, Inc.

“We are very excited and proud to have a first in class retailer relocating to this prominent CBD location” said Combined Properties vice president director of leasing, Greg Regazzini. “Malden continues to attract regional and national retailers who have discovered that the city offers solid demographics and a business friendly environment. It is not only retailers who have discovered what the city has to offer. As prices in all asset classes continue to soar in Boston and Cambridge we have seen a steady flow of varied companies and young professionals taking advantage of Malden’s location along the MBTA Orange Line, proximity to major roadways, quality housing and diverse CBD amenities,” said Regazzini.

Combined was represented by Regazzini.

Combined Properties, Inc. is a full-service real estate investment and development firm specializing in high-quality office, R & D, industrial, and retail properties in the Northeast. Since its founding, the company has purchased, developed and managed over 2.6 million s/f of space. Most recently, the Malden based firm broke ground on a second multi-family development in the city’s CBD.