Cape Cod Retail Centers Change Hands to the Tune of $120M
Newmark has completed the sale of two retail shopping centers on Cape Cod in MA totaling more than $120 million. The assets include Southwind Plaza, a 258,110-square-foot shopping center in Hyannis and Falmouth Landing, a 279,989-square-foot retail center in Falmouth.
Robert Griffin, Geoffrey Millerd, Jonathan Martin and Paul Penman of Newmark represented both the seller, O’Connor Capital Partners, and the buyers, TA Realty (Falmouth Landing) and Bandera Ventures (Southwind Plaza).
“With high barriers to development across the submarket, retail centers such as these are hard to replicate, creating strong, built-in demand from big box retailers,” said Martin.
Southwind Plaza was 100% leased at sale to The Home Depot, Whole Foods, Kohl’s, Bed Bath & Beyond and Ethan Allen.
Falmouth Landing is anchored by Walmart and Shaw’s and junior anchored by TJ Maxx, Michaels and HomeGoods. Falmouth Landing is home to Walmart’s only store on the Cape and Islands.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.