Unison Realty Partners acquired Shaw's Plaza, a 164,857 s/f grocer-anchored shopping center, for $19.2 million or $116 psf. The seller is Northstar Properties of New York.
"We are extremely pleased to continue to grow our portfolio with the acquisition of a shopping center in Dover, New Hampshire. Shaw's Plaza contributes positively to our existing portfolio with its prime location in a vibrant retail market, its line-up of national credit tenants, and substantial value yet to be realized. We will strive to make a positive contribution to the community and serve our tenants the best we can," said Karim Fadel, president of Unison Realty Partners.
Shaw's Plaza includes a 65,000 s/f grocery store operated by Shaw's along with two junior anchor tenants: Bed Bath and Beyond and Petco. Other retailers include Rite Aid, Rocky's Ace Hardware, Panera Bread, Olympia Sports, Weight Watchers, Great Clips, etc. There is currently 9,500 s/f of available space in the plaza.
Unison Realty, headquartered in Cambridge, is an owner-operator of shopping centers specializing in off-market acquisition of grocery-anchored shopping centers in New England. Unison targets performing retail properties with value-add potential over the long term.