For Immediate Release
RK Centers continued its active string of acquisitions in New England with the purchase of the Shops at the Pond in Marlborough Massachusetts. The 104,000 square foot center was acquired for $21,125,000 from an affiliate of Kimco. The center has a strong tenant roster comprised of Best Buy, DSW, Eastern Mountain Sports, Pure Hockey, and Olive Garden. The transaction strengthens RK’s presence in the trade area. Other RK holdings include RK Hudson Town Center in Hudson (anchored by Hannaford and Petco), RK Centre in Marlborough (anchored by Hannaford and Office Max), and RK Speedway Plaza in Westborough (anchored by Stop & Shop and Burlington Coat Factory).
Shops at the Pond is located on Donald Lynch Boulevard, the primary thoroughfare to the super regional Solomon Pond Mall. “We have been active in the market for 20 years” said Kenneth Fries of RK Centers. “Our knowledge of tenant performance and barriers to entry made this a very easy decision for us”. The center benefits from excellent access from Route 290 and Route 495.
RK Centers has been actively acquiring properties in New England and Florida with the purchase of over 14 properties with a value of $150 million in the past 18 months. “We plan to continue to acquire retail assets in our markets for the foreseeable future” said Fries. Just last month, the company acquired 50 Cabot Street in Needham, Massachusetts. The 42,000 square foot office building was acquired for $9,875,000 and will serve as the company’s new corporate headquarters.
Raanan Katz strives for excellence and as Managing Principal of RK Centers, he remains the driving force in the continued growth of the company. With due diligence and all operations conducted in house, RK Centers is positioned to act swiftly. The company’s nimble approach together with its well capitalized financial structure enables it to be extremely competitive in the acquisition of new properties.
Vice President of Marketing
456 Providence Highway
Dedham, MA 02026