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Mansfield Shopping Center Trades Hands

Mansfield Marketplace, a 23,840-square-foot shopping center, has been sold for $10.37 million. Robert Horvath and Todd Tremblay of Marcus & Millichap Real Estate Investment Services represented both the buyer and seller in the transaction.

Located at 295 School St. in Mansfield, the sales price of $10,375,000 means the property went for $435 per square-foot and had a cap rate of 8.34 percent.

Mansfield Marketplace was built in 2009 and consists of eight tenants in two separate buildings. The tenants include AT&T Wireless, Chipotle, Sleepy’s, Friendly’s, Radio Shack, Knockout Haircuts, Pearle Vision and the Asian Grill. The property features a national and regional tenant base on long-term leases.

The property is located directly across from the entrance of Mansfield Crossing, a 383,000-square-foot retail center.

Commercial & Industrial