TAUNTON, MA-A newly built, fully leased, 84,482-sf shopping center sells for $18.3 million. Rreef was pitted up against 14 other contenders for the ownership rights to the Route 24 plaza.

James M. Koury, with Spaulding & Slye's Boston office, tells GlobeSt.com that several other buyers came close to the offer but seller Taunton Land Development LLC, a subsidiary of Sacramento-based Coastal Partners, selected the global entity because of its record for closing deals. The property, known as Taunton Crossing, was developed by the seller and is fully leased to long-term tenants that include TJ Maxx, Office Depot, Michaels and Pier One.

"It's a great location," says Koury, noting that the plaza lies adjacent to a power center. "It has traffic flowing by it as though it was a larger center and enjoys the benefits of the draw from the power center next door." He adds that TJ Maxx was so confident in the plaza's ability to draw customers that it moved from the Silver City Galleria to take space in Taunton Crossing. "That should tell you the confidence level." Koury represented the seller and procured the buyer.