Santiago and Quinn of SVN | Parsons broker $3.765 million sale of 56,300 s/f shopping center

August 27, 2021 - Retail

Bellingham, MA SVN | Parsons Commercial Group | Boston has completed the sale of a 56,300 s/f shopping center at 15 North Main St. to VTT Mom + Pop Retail, LLC for $3.765 million.

Senior advisors Marilyn Santiago and Garrett Quinn of SVN | Parsons Commercial represented the buyer, VTT Mom + Pop Retail, LLC. The seller, Rick Kaplan of Bellingham Plaza, LLC, represented himself in the transaction.

The property is a three building multi-tenant plaza located just outside the Greater Boston region named The Shopping Plaza at Bellingham Commons. This 56,300 s/f plaza is located in the center of town by the Rte. 126 and Rte. 140 intersection. It is 2-3 miles off Rte. 495 at exits 17 or 18.

The Shopping Plaza at Bellingham Commons hosts a wide array of businesses including auto, education, fitness, health & beauty, pets, professional services, restaurants, shopping and more.

“With over 20 diverse tenants and easy access to the plaza, it has become a one-stop destination for many in the community,” said Santiago. “Although we have seen a decline in the market for larger big box retail centers, well located neighborhood centers are viable, especially in suburban communities such as Bellingham, MA. Investors can acquire value-rich properties at opportunistic prices, less competition, and more supply of quality real estate when compared to gateway cities.”

Tags:

Comments

Add Comment


More from the New England Real Estate Journal