Press Release brought to you by CBRE/New England

CBRE/New England Sells Speedway Plaza for $18.725M

07/23/2014

Wednesday, July 23, 2014

 

 

CBRE/New England Contact:

Kara DeMichele

Tel: 617.912.7038

kara.demichele@cbre-ne.com

 

 

 

CBRE/New England Sells Speedway Plaza for $18.725M

Supermarket-anchored shopping center soldin Westborough, MA

 

BOSTON (July 23, 2014) — CBRE/New England’s Capital Markets team announces the sale of Speedway Plaza located at 290 Turnpike Road in Westborough, Massachusetts for $18.725 million. The ±183,900 square foot, Stop & Shop-anchored shopping center is ideally located along Route 9, the region’s primary retail corridor. The majority of the property is occupied by three nationally recognized tenants: Stop & Shop, Burlington Coat Factory and Chick-fil-A.

 

CBRE/New England’s Chris Angelone, Bill Moylan, Nat Heald and Bruce Lusa represented the seller and procured the buyer, RK Centers.

 

“We are happy to have assisted in this transaction,” noted CBRE/NE’s Angelone. “RK Centers is the right buyer for the next chapter of this property and we believe they will be successful in executing their vision.”

 

Speedway Plaza is located along one of the most heavily traveled sections of Route 9, which is Greater Worcester’s primary retail thoroughfare. The property is immediately surrounded by a “who’s who” of national retailers including Lowe’s, Walmart, Target and five high-volume auto dealerships. In addition, Speedway Plaza is situated in the midst of a densely occupied and affluent trade area.

 

About CBRE/New England

CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

 

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07/23/2014 - 09:26

Source

CBRE/New England

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