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Boston & New England  + Massachusetts  + Retail  | 

American Realty Makes $206M MA Buy

Glendale, CA-based American Realty Advisors acquired the shops at University Station in Westwood, MA from Westwood Marketplace Holdings LLC for $206 million. The newly-built 130-acre, 2.1-million-square-foot mixed-use development includes apartments and offices, as well as a 400,000-square-foot retail center.

American Realty Advisors’ Martha Shelley says the investor seeks TOD projects in supply-constrained markets. She cited the market’s limitations on growth and development, the assets’ strong upside potential, national tenant base, and attractive demographics as key factors in the acquisition decision.

Robert E. Griffin Jr., formerly with Cushman & Wakefield and now with Newmark Grubb Knight Frank, represented sellers New England Development, Eastern Real Estate and National Development. New England Development will continue to serve as the management and leasing agent for the retail center.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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