BOSTON—HFF has closed the sale of a 24-property, 1.4million-square-foot retail portfolio located in the greater Bostonarea, New Jersey and Connecticut. The property was sold for $270million—including the assumption of approximately $121 million ofdebt.
HFF exclusively marketed the portfolio on behalf of G.P.B.Holdings, LLC and introduced the buyer, Kimco Realty Corp., tothe seller. The HFF investment sales team representing theseller was led by senior managing director Jim Koury and executivemanaging director John Fowler.
The overall portfolio was 96% occupied and anchored by avariety of national and regional credit tenants including Walmart,Kohl's, Lowe's, Whole Foods, Trader Joe's, Petco, Pier 1 Imports,Walgreens, CVS as well as Kings and Aldisupermarkets. Massachusetts plays host to 21 of theproperties, two are in New Jersey and one is in Connecticut. Several included irreplaceable, core locations such as the TraderJoe's near Harvard and MIT on Memorial Drive in Cambridge, Mass.and a Whole Foods in close proximity to Boston College and BostonUniversity in Brighton, Mass.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
