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Malden Shopping Center Sold to Needham Developer

Image courtesy of RK Centers

Needham-based RK Centers paid $26.3 million for a Stop & Shop Supermarket-anchored retail property in Malden that had previously sold in 2023 for $21.4 million.

The 99 Charles St. property was one of 11 Massachusetts and Rhode Island retail properties anchored by Stop & Shop stores or Walgreens pharmacies that were previously acquired by Orion Real Estate Group of Miami in March 2023.

The Malden Center property includes an 80,506-square-foot Stop & Shop Supermarket and has excess acreage suitable for multifamily development, RK Centers said in an announcement.

According to RK Centers, the property has a 3-mile trade area population of nearly 50,000 with average annual household incomes of nearly $110,000.

RK Centers owns more than 100 retail properties in New England and Florida and manages more than 1 million square feet of retail space.

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