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Well-Located Neighborhood Strip Center Sells for $11M
Atlantic Capital Partners closed the sale of 18-20 Main St., a fully leased neighborhood strip center located in North Reading, MA, within affluent Middlesex County. Representing the seller, the Atlantic team was led by Justin Smith, head of capital markets; Chris Peterson, EVP; Danielle Turpin, senior associate; and John Dixon, analyst.
The center totals 46,738 square feet and is anchored by a 13,225-square-foot standalone CVS. The adjacent 33,289-square-foot strip center includes nine service-oriented retailers, including East Gate Liquors and AutoZone. The asset serves a dense suburban trade area in Boston’s northern suburbs and benefits from its proximity to Interstates 93, 95 and Route 495.
“The shopping center generated significant competitive interest from a diverse pool of local and regional investors,” said Smith. “The combination of stable, long-term tenancy and the center’s convenient location within a desirable, high-barriers-to-entry market made this a highly sought-after opportunity.”
- ◦Sale/Acquisition
