New Bedford Retail Center Offers Value-Add Potential for New Owner

A private real estate investor has acquired Fieldstone Marketplace, a 192,003-square-foot shopping center located at 500 Kings Hwy. in New Bedford, MA. The sale price was $12.2 million.

The CBRE National Retail Partners team of Nat Heald, Connor Scott and Jordana Roet spearheaded the marketing campaign for the retail complex and represented the seller. The team also procured the buyer.

“We were excited to work on Fieldstone Marketplace and pleased with the level of aggressive competition,” said Heald. “Investors clearly indicated their demand for properties that combine in-place yield, below replacement cost pricing and the potential to add value through leasing existing vacancy. We anticipate continued strong demand and pricing for properties that offer these attributes.”

Fieldstone Marketplace is a recently repositioned shopping center anchored by retail tenants Restaurant Depot and Ollie’s. Recently enacted Transit Oriented Development Zoning covering Fieldstone Marketplace allows significantly more density through mixed-use redevelopment

Inside The Story

CBRE's Heald

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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