Stout of Atlantic Properties brokers $4.55 million sale on behalf of PRRL Associates, LLC - 1470 New State Hwy. sold to Shri Gopinathji, LLC

Raynham, MA On behalf of PRRL Associates, LLC, Atlantic Properties has sold 1470 New State Hwy. to Shri Gopinathji, LLC for $4.55 million. 1470 New State Hwy. is a 66,000 s/f retail center on 8.57 acres. Tenants include Signature Healthcare, Speedy Oil Change, Appliance Parts Center and Signarama.

Located on Rte. 44 the property is in close proximity to Rte. 495 and Rte. 24 allowing access to points, north, south, east and west. The high traffic location is desirable to tenants looking for visibility from the street.

When sold the property was 65% leased affording the new ownership a deep value add opportunity. Utilizing an aggressive marketing campaign, multiple leases have been executed since closing.

“The acquisition of 1470 New State Hwy. is the latest in a string of value driven asset purchases by the buyer,” said Ben Stout of Atlantic Properties. Long term tenants attracted the buyer to the building, but the tenant mix and value-add component drove the transaction to the finish line. The acquisition was financed by Rockland Trust.

Ben Stout of Atlantic Properties was the sole broker in the transaction.

Tags: Brokerage Retail

Reprint

Previous Story Next Story

O,R&L Commercial facilitates $3.8m sale of 29,879 s/f mixed-use property

Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.

Atlantic Capital Partners sells shopping center in Milford for $8m

Horvath & Tremblay completes sale of Walgreens store for $4.9m

Commercial Realty Advisors represents buyer in $1.9m acquisition

Prescott IOS and the Stubblebine Company complete 30,500 s/f on three acres of IOS in a build-to-suit lease at 3 Belcher St., Plainville, MA

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Owners Developers & Managers

Lark Hotels’ flagship Greater Boston property, Cambridge Common House, now open in Harvard Square

Columns and Thought Leadership

End of the year retail thoughts - by Carol Todreas

Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.

The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde

This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.