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Bentall Kennedy Pays $62.1M For Woburn Mall

Canada’s Bentall Kennedy has purchased the 276,205-square-foot Woburn Mall for $62.1 million from the Providence-based Koffler Group.

The Koffler Group purchased the mall for just under $13 million in 2001, according to information from The Warren Group, publisher of Banker & Tradesman. The total land and building value was assessed at $21.5 million earlier this year.

The mall at 300 Mishawum Road in Woburn is anchored by a Market Basket, TJ Maxx and CVS stores and sits on about 25 acres. The CB Richard Ellis capital markets team of Chris Angelone, Bill Moylan and Nat Heald represented the seller and procured the buyer. The mall is approximately 89 percent occupied.

The mall was built in 1976, had its first renovation in 1986 and a multi-million dollar overhaul in 2006.

Commercial & Industrial