Issue Date: 11/22/2013, Posted On: 11/22/2013
RK Centers Purchases Stop & Shop Foxboro for $6.35 Million
FOXBORO, MA — November 20, 2013 — Cushman & Wakefield today announced the sale of a freestanding Stop & Shop in Foxboro, Massachusetts, for $6.35 million to RK Centers. The well-established 65,000-square foot free-standing grocery store is located just over 20 miles southwest of New England’s largest metropolitan area, Bfoston. Stop & Shop ¦ Foxboro is currently fully leased to the region’s top-grocery operator and is in close proximity to U.S. Interstate 95, which contributes to the property’s visibility and strong demographics in the surrounding area.
“This property is ideally located in Metro Boston,” Cushman & Wakefield Executive Director Geoffrey Millerd said. “Competition among well-located retail assets in the Boston area that have excellent tenancy, such as Stop & Shop, generating secure stable cash flow have been highly coveted by investors throughout 2013.”
Constructed in 1999, Stop & Shop executed a long-term lease as part of a build-to-suite with the prior ownership. Not only does the property’s close proximity to downtown Foxboro and Boston ensure long-term success, the local marketplace is just northeast of Providence, Rhode Island, and is home to other major national retailers, including Home Depot, Lowe’s Home Improvement, Target and T.J. Maxx.
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About Cushman & Wakefield
Cushman & Wakefield is the world’s largest privately-held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has approximately 250 offices in 60 countries and more than 16,000 employees. It offers a complete range of services for all property types, fully-integrated on a global basis, including leasing, sales and acquisitions, debt and equity financing, investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4.0 billion in assets under management through its wholly-owned subsidiary Cushman & Wakefield Investors. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
For the New England area, Cushman & Wakefield maintains offices in Boston, Massachusetts; Manchester, New Hampshire; Hartford and Stamford, Connecticut; and Portland, Maine. To find out more about Cushman & Wakefield, please call 617.330.6966.