TA Realty, Wilder Acquire $390M Retail Portfolio across Boston and Providence
Newmark has completed the $390-million sale of nine grocery-anchored shopping centers located across greater Boston, MA and in Providence, RI. The portfolio is 95% leased.
Robert Griffin, Geoffrey Millerd, Jonathan Martin and Paul Penman of Newmark represented seller Gravestar and procured the buyer, TA Realty and operating partner Wilder. Newmark’s Mathew Adler provided additional support while Richard Ruggiero acted as the local broker for the RI transaction.
“This portfolio represented a generational opportunity — the first-time offering of the highest-quality, privately-owned collection of shopping centers in New England,” said Millerd. “Phenomenal investor demand for this portfolio underscores the strength of the market for premier supermarket-anchored retail assets in New England.”
The portfolio includes eight assets in Massachusetts: Auburndale Plaza (Newton), Brookline Plaza (Brookline), Horn Pond Plaza (Woburn), Norwood Plaza (Norwood), Porter Square Shopping Center (Cambridge), Sudbury Plaza (Sudbury), Waltham Plaza (Waltham) and Wellesley Plaza (Wellesley). Additionally, it includes one asset in Rhode Island: Pontiac Avenue Plaza (Cranston).
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.