X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RAYNHAM, MA-In its third Bay State acquisition in three months, Cedar Shopping Plazas has entered into an agreement to purchase Shaw’s Plaza in a $27.3-million. The deal gives the buyer its fourth Massachusetts holding in less than two years.

The 176,000-sf shopping plaza, located at 270 New State Highway/Route 44, is anchored by a 60,000-sf Shaw’s Supermarket with a lease that extends to 2023 and a 25,750-sf Marshall’s department store. It also contains 15,775 sf leased to JoAnn Fabrics along with a 10,125-sf CVS and a 10,000-sf Fashion Bug. The name of the plaza’s current owner was not disclosed.

The acquisition agreement was the third signed by Cedar since October when the Port Washington, NY-based shopping center REIT purchased the Shops at Suffolk Downs, a newly developed plaza located on 25 acres adjacent to the Suffolk Downs Racetrack in Revere, for an undisclosed price. That property, which is anchored b a 75,000-sf Super Stop & Shop and shadow anchored by a 123,000-sf Target store situated on a separate parcel that was not part of the deal. Cedar plans to build an additional 36,000 sf of retail space on the Route 1 site.

Earlier this month, the company purchased Fieldstone Marketplace in New Bedford for $26.2 million. That 194,000-sf community shopping center is anchored by a 68,000-sf Shaw’s. Cedar entered the Massachusetts market about a year ago with the acquisition of the Franklin Village Shopping Center in Franklin, which is also anchored by a Stop & Shop.

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?

Dig Deeper

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.