JLL completes $19.5 million sale of suburban Boston shopping center

Jessica Dowd

BOSTON, MA – JLL announced it has closed the $19.525 million sale of a 79,300-square-foot Stop & Shop-anchored shopping center in the suburban Boston community of Stoughton, Massachusetts.

JLL represented the seller, KPR, in the transaction. 

The buyer, RK Centers, based in Needham, Massachusetts, is a privately held, family-owned real estate development company, which owns over 8,000,000 square feet of commercial space.

Nat Heald

The property is anchored by a 59,987-square-foot Stop & Shop supermarket and is home to several convenience-type retailers, including Bank of America, Care Central Urgent Care and Andrade’s Liquors. 

Situated less than 20 miles south of Boston, the property is located at 278 Washington Street along Route 138, a busy commercial corridor with daily traffic counts exceeding 27,000 vehicles per day. 

Additionally, the surrounding area is densely populated with more than 142,000 residents earning an average household income of more than $107,000 within a five-mile radius of the property. 

The JLL Capital Markets team representing the seller was led by Executive Vice President Nat Heald, Managing Director Chris Angelone and Vice President Jessica Dowd.

Chris Angelone 

Ken Fries, Director of Acquisitions for RK Centers, said, “In the last four years, RK Centers has acquired more than 2.5 million square feet of commercial space. 

"Our investment formula focuses on open-air, well-situated, heavy traffic locations with good demographics – and respected credit tenants.” 

Fries attributes the firm’s 35-year track record to its founder’s guiding principles: minimal debt and close working relationships with tenants, customers, and local and regional vendors. Acquisitions are exclusively regional shopping centers located in New England and South Florida.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

Ken Fries

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Contact: 

Kristen Murphy

JLL Director, Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

jll.com.