MARLBOROUGH, MA-Kimco Realty Trust acquired the the Shops at the Pond Shopping Center for $26.5 million. Upper River Road LLC, a partnership including New England Development and SR Weiner and Co. sold the property, which was built last year.

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

James M. Koury, senior vice president of Spaulding & Slye Colliers, exclusively represented the seller and introduced the buyer in the transaction.

“The sellers could not have picked a better time to sell,” says Koury. “We were able to achieve record pricing for this type of stabilized, 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 intersection of two major highways and its newness. It is also the only shopping center next to a newer super regional mall with barriers to entry deterring the construction of additional centers, he notes.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.