In the first deal, Retailers Realty sold 305 Boston Rd. to Carol Ravanis for $1.25 million. The 16,120 sf property is fully leased to AutoZone, ERA Realty, Curves for Women and Escape Spa & Salon.
In the second transaction, Retailers Realty acquired 524-528 South Broadway in Salem, NH. The 26,124 sf property was purchased from Starwood Ceruzzi for $2.85 million and enabled the trust to complete a tax-deferred exchange. Among the property's tenants are Pep Boys, Leslie Pool Supplies and IHOP. David Wojciechowski of Staubach Realty Services represented Starwood Ceruzzi.
Gary Belowich, trustee of Retailers Realty Trust and principal of Remic Properties points out that these transactions allow his firm to upgrade its holdings in "a desirable, tax-deferred manner."
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