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JLL Team Closes $130M Sale of Watertown Shopping Center
JLL Capital Markets has closed the $130-million sale of Watertown Mall, a 260,867-square-foot shopping center in Watertown, MA. Although JLL didn’t disclose the buyer, published reports identified it as West Coast life sciences REIT Alexandria Real Estate Equities.
The JLL Boston capital markets team of Chris Angelone, Coleman Benedict, Nat Heald, Matthew Sherry and Zach Nitsche represented the seller, Watertown Mall Associates Limited Partnership, and procured the buyer.
Situated next to the one-million-square-foot Arsenal Yards mixed-use redevelopment, Watertown Mall is 98% occupied by 10 tenants, including the No. 1 most-visited Target in Massachusetts, Best Buy and the Registry of Motor Vehicles.
“With top-performing retail tenants in place, a premier location and demographics and the potential to successfully support a variety of different uses, Watertown Mall represents an extraordinary opportunity to own one of the last large parcels in the red-hot Watertown submarket,” Angelone said.
- ◦Sale

