For Immediate Release
March 11, 2015
RK Centers continues its New England expansion with the purchase of VFW Parkway Plaza in West Roxbury, Massachusetts for $5,125,000.
RK continues to aggressively pursue shopping center assets in the New England market. “Our appetite for future acquisitions remains strong for regional properties in supply constrained markets” said Kenneth Fries of RK Centers. “This particular center happens to be in our own backyard. Due to the number of properties we have along Route 1, we had an existing knowledge of market rates and national tenant demand.”
“We put the wheels in motion during the due diligence phase and we were able to start without delay” said David Katz of RK Centers. “We have already begun renovations to the property and are speaking with several national tenants about the remaining vacant space in the center.”
The property is located at 1665 – 1675 VVW Parkway. Existing tenants include Town Fair Tire, Pet Supplies Plus, and Bank of America.
Ellen Faye of Capital Commercial represented the Seller, Heather Realty Trust.
About RK Centers
The company was founded and is principally owned by Raanan Katz, who entered the real estate development arena in the 1970s. Raanan Katz has guided the company with a steady growth rate which has withstood numerous market cycles. Raanan’s “hands-on” approach and conservative borrowing practices have resulted in a portfolio of first-class properties with an extremely low debt structure, resulting in RK Centers being one of the more stable shopping center operators in the industry. RK Centers welcomes inquiries from national and regional retailers who are interested in drawing upon our considerable resources for assistance in site selection or other expansion needs.
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456 Providence Highway
Dedham, MA 02026