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RK Centers Adds Retail Along Highland/Needham Corridor
Needham-based RK Centers added two high-visibility properties along the Highland Avenue/Needham Street retail corridor on the Needham-Newton, MA line. The combined purchase price was $7,075,000.
Ken Fries, director of leasing, acquisitions and development for RK Centers, represented the buyer in-house. Brandon Dickason, VP with Avison Young, represented the seller, Terrazzino Investment Trust.
The property at 238 Highland Ave. in Needham, which totals 15,609 square feet, is home to the Needham Montessori School, Mandarin Cuisine Restaurant and Needham Nail & Spa.
At the 3,588-square-foot 106 Needham St. in Newton, the sole tenant is Gym Source, the country’s largest distributor of residential and commercial fitness equipment.
The Highland Avenue/Needham Street corridor boasts a high-density population with over 265,000 residents within a five-mile radius, and average household income of approximately $150,000, according to RK Centers.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
