Equity Industrial Acquires Metro Boston Retail Property for $36M
Watertown-based investment firm Equity Industrial Partners has acquired a 69,000-square-foot retail building in Watertown. The sales price was $35.5 million.
The retail property is currently net leased to grocery tenant Stop & Shop. The retailer has occupied the building for more than 25 years and recently extended its long-term lease. The property is located at 700 Pleasant St.
JLL represented the seller, a partnership between Winstanley Enterprises and Surrey Equities LLC, in the transaction. Equity Industrial Partners is a privately held developer and operator of industrial warehouse, distribution and office facilities throughout the United States.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.