RK Centers Purchases Stop & Shop Foxboro for $6.35 M

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

Source: bostosf.com