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Mansfield Grocery-Anchored Property Sold for $25M

Nov 13, 2020 | Reprints | Unlock Link | Print

Image courtesy of Newmark Knight Frank

A California real estate investment firm has paid $25 million to acquire a grocery-anchored retail property in Mansfield.

Bailard Real Estate Fund acquired the 74,383-square-foot shopping center at 377 Chauncy St., which is leased to Stop & Shop along with nine sublease tenants. The 9-acre property includes 400 parking spaces.

The seller, TRT Mansfield LLC, bought the property in 2007 for $19 million.

Newmark Knight Frank’s capital markets team represented the seller and procured the buyer.

The property’s trade area includes nearly 71,000 people in a five-mile radius with an average household income of $118,000, according to NKF.