GARDNER, MA-A single tenant shopping plaza in Gardner brought in at least 14 offers during its six weeks on the market. An $8.2-million bid by GM Crimson LLC, a subsidiary of Czech-based Crimson Capital, which won the title to the 42,29- sf, grocery anchored center.
Spaulding & Slye senior vice president James M. Koury, who represented the seller and procured the buyer, tells GlobeSt.com that the property drew investor interest because of its name tenant, Hanaford Supermarket, and its location on heavily traveled Route 68 at the intersection with Route 2. "Freestanding, single-tenant supermarkets are in huge demand these days because they're fairly safe to own and have increases in rent over the next few years."
Hanaford holds a 20-year lease on the center, which was originally built in 1963 and renovated in 1986 and from 1990 to 1993. The seller was Gardner Timpany LLC, a subsidiary of Plaza Properties.
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