The 103,000-sf mall is located at the intersection of Routes 290and 495, next to the Pond Mall. The center is 100% occupied by avariety of tenants including Best Buy, Eastern Mountain Sports,Borders Books, DSW and the Olive Garden.

James M. Koury, senior vice president of Spaulding & SlyeColliers, exclusively represented the seller and introduced thebuyer in the transaction.

"The sellers could not have picked a better time to sell," saysKoury. "We were able to achieve record pricing for this type ofstabilized, non-supermarket anchored strip center in New England."Koury says that in addition to the low interest rate environment,factors affecting pricing included its location at the intersectionof two major highways and its newness. It is also the only shoppingcenter next to a newer super regional mall with barriers to entrydeterring the construction of additional centers, he notes.