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WORCESTER, MA-TA Associates Realty sold Perkins Farm Marketplace to Kramont Realty Trust for nearly $19.8 million. Cushman & Wakefield’s financial services group of Robert E. Griffin, Jr., Edward C. Maher, Geoffrey Millerd, Marci Griffith Loeber and Ryan Cox represented TA Associates Realty in the transaction and procured Kramont.

Perkins Farm Marketplace is a 203,000-sf community shopping center located on nearly 20 acres just north of the Massachusetts Turnpike on Route 122 in central Massachusetts. Among its anchor tenants are Super Stop & Shop, Building #19 and AJ Wright. Other tenants include KB Toy Store, Fashion Bug, Payless Shoe Source, Dots, H&R Block and Radio Shack. This center was originally built in 1965 and was renovated in the late 1990s.

“Perkins Farm is a superb center in a very strong retail market,” says Maher, an executive director with Cushman. Maher notes that the retail market is expected to continue to be “a strong performer.”

According to Marcus & Millichap’s 2003 annual retail report, Boston has moved up three places to the number four spot on the national retail index. The report indicates that the area’s healthy retail market has spurred rent growth with the average asking rent increasing by nearly 4% in 2002 to $19 per sf and further gains in the first half of 2003.

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