IPA Arranges $55M Sale of Whole Foods-Anchored Retail Center in Bedford
Institutional Property Advisors (IPA) has arranged the $54.5 million sale of Bedford Marketplace, a 153,000-square-foot Whole Foods-anchored shopping center in the Boston suburb of Bedford, MASS. IPA represented the seller, RFPS 181 Owner LLC, in the transaction. The buyer was Ramco Property Acquisitions LLC.
Located off Great Road/Route 4, Bedford Marketplace is adjacent to Lexington and Concord and 14 miles from Boston’s central business district. A biotech hub, Bedford hosts more than 30 life sciences companies, 18 of which are within 12 miles of the property.
“Located in an upscale market with formidable barriers to entry, Bedford Marketplace has the only Whole Foods in an eight-mile radius, which includes some of Boston’s most desirable bedroom communities,” said James Koury, senior managing director at IPA. “Over 74% of the tenants are essential retailers and 97% of the revenue is internet proof. The entire property was either recently developed or part of a renovation completed in 2016.”
- ◦Sale/Acquisition