(For more retail coverage, click GlobeSt.com/RETAIL.)
BOSTON-Less than 18 months after acquiring Somerville's AssemblySquare for $65 million, Rockland, MD-based Federal RealtyInvestment Trust has grabbed a trio of suburban Boston propertiesin a $150 million off-market negotiation. That brings the REIT'sBay State holdings to more than 2 million sf.
The three properties, Linden Square in Wellesley, ChelseaCommons in Chelsea, and the North Dartmouth Shopping Center inNorth Dartmouth, were all acquired from affiliates of EasternDevelopment of Woburn, as part of a long-term hold, REIT EVP JeffBerkes tells GlobeSt.com. The acquisitions bring the Trust's Bostonportfolio to more than two million sf of retail space, includingproperties owned through Federal Realty's joint venture withClarion Lion Properties Fund.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
