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PORTSMOUTH, NH-MRS Management, a Topsfield, MA buyer, beat out at least five other investors to take ownership of the White Birch Plaza, a 39,000-sf shopping plaza here. The firm, which paid $5.9 million for the property, receives a 90% occupied facility.

MRS Management’s top bid beat out both individual and institutional investors just 90 days after the property went on the market, Jon Aron, with NAI Hunneman Commercial, tells GlobeSt.com. Aron says competition for the asset was fierce because of the center’s location on heavily traveled Route 1 near a number of other national and local businesses.

“White Birch Plaza represents a solid investment with excellent appreciation potential over an intermediate to long term time horizon,” Aron says. “It was just an overall attractive property.”

Developed in 1985, the plaza is home to 18 tenants, including Citi Financial, Supercuts, Weight Watchers, Papa Gino’s. A freestanding restaurant which had been occupied by Wendy’s for the last 20 years, remains vacant and is available for lease.

Seller Brad Associates of Reading, MA was represented in the transaction by Aron and Robert Tito, also with NAI Hunneman Commercial. That team also procured the buyer in the deal.

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