MANSFIELD, MA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Mansfield Marketplace (top left photo), a 23,840-square foot retail plaza in Mansfield. The sales price of $10,375,000 represents $435 per square foot.
Robert Horvath and Todd Tremblay in the firm’s Boston office represented the seller, Hecht Development, and the buyer, Davos Family Trust.
“Investor demand for quality core retail product located inside the Interstate 495 corridor in Boston continues to be a highly desirable and sought-after asset among most of the buyer pools,” says Horvath.
“Investors were interested in this asset because of the strong retail location, diversified tenant roster, and scheduled rental increases in both the base and option periods,” adds Tremblay.
Mansfield Marketplace is located at 295 School St. in Mansfield, directly across from a new 383,000-square foot open-air center, Mansfield Crossing.
The town of Mansfield is located approximately 25 miles south of Boston and 19 miles north of Providence, R.I. Interstate 95 and Interstate 495 are located on the Mansfield town line and the Massachusetts Bay Transportation Authority (MBTA) commuter rail between Providence and Boston stops in Mansfield.
Mansfield Marketplace’s tenants include Chipotle, AT&T Wireless, Sleepy’s, Radio Shack, Friendly’s, Knockouts Haircuts, Pearle Vision and Asian Grill & Sushi. The plaza was built on 3.5 acres in 2009.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
No comments:
Post a Comment