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Kohl’s-Anchored Plaza Sold to Sherborn Investors

Photo courtesy of Atlantic Capital Partners

A community shopping center anchored by Kohl’s in Springfield was sold to Sherborn-based investors for $10.2 million.

The Boston Commons Plaza totals 103,494 square feet of retail space and is 98 percent leased to six tenants, with average weighted lease terms of over five years.

Boston 800 Partners LLC, which lists Tao Lin and Tian Ying Wang of Sherborn as managers, acquired the property from RCG Ventures of Atlanta on June 17.

Atlantic Capital Partners represented the seller.

“The sale of Boston Commons represents a unique transaction defined by Kohl’s long-term anchor commitment, highlighting sustained demand for well-positioned, long-term big box retail in productive markets,” Atlantic Capital Partners Associate Matt Ericson said in a statement.

The property benefits from more than 17,000 vehicles on the Boston Post Road corridor, according to Atlantic Capital Partners.

Commercial & Industrial