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Boston & New England  + Metro Boston  + Retail  | 

RPT Realty Acquires Northborough Retail Center for $104M

Owner and operator of open-air shopping centers RPT Realty has acquired Northborough Crossing, an open-air grocery-anchored shopping center in Northborough, MASS. The sales price was $104 million.

Located off Route 9 and Route 20, the center is home to the first Wegmans in Massachusetts along with other major retailers including BJ’s Wholesale Club, Dick’s Sporting Goods, TJ Maxx, Old Navy, Kohl’s and PetSmart. Additional tenants include ULTA Beauty, F45 Training, The Paper Store, Kumar’s Indian Kitchen and Starbucks. RPT Realty plans to sell sub-divided net lease components from the center to RGMZ that are expected to enhance the effective yield on the retained multi-tenant center.

The company also recently closed on the acquisition of Village Shoppes of Canton, a retail center in Canton, MASS. for $61.5 million as well as the acquisition of Bedford Marketplace, a retail center in Bedford, MASS for $54.5 million. The sellers were not disclosed.

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About David Cohen

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.

  • ◦Sale/Acquisition