RK Centers Purchases Free-Standing Building Occupied by Stop & Shop in Chelmsford, MA for $7.2 Million
CHELMSFORD, MA — June 15, 2016 — RK Centers has acquired a freestanding 72,220 square foot building occupied by Stop & Shop in Chelmsford, Massachusetts, for $7.2 million. The sale was brokered by Geoffrey Millerd of NGKF Capital Markets.
The property is located on Route 110 immediately adjacent to the Route 3 interchange at Exit 31. It also offers convenient access to Interstate 495 at Exit 35. “We really like the long term fundamentals of the property given the regional access and the demographic profile within the trade area” said David Katz, Principal of RK Centers.
Area retailers include Market Basket, Kohl’s, TJ Maxx, Michaels, and Staples
RK Centers has been quite active in the acquisition of properties in New England, purchasing 13 properties totaling approximately 1,500,000 SF over the past 24 months.
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About RK Centers
RK Centers is a privately held, family-owned real estate development company which was founded by Raanan Katz, who continues to serve as Managing Principal of the firm. It currently owns over 7,500,000 square feet of commercial space, with expertise in the acquisition, development, and management of “open air” regional and community shopping centers in New England and South Florida. All of RK Centers’ leasing and management is performed in-house by company staff. Additional information about RK Centers is available at www.rkcenters.com.
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