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TA Realty and Wilder are the new owners of nine New England shopping centers following a $390 million series of transactions in Massachusetts and Rhode Island.
Spanning 729,437 square feet, the grocery-anchored retail portfolio is 95 percent leased.
Newmark represented the seller, Cambridge-based Gravestar Inc. In a statement, Newmark Vice Chairman Geoffrey Millard said the “phenomenal investor demand” for the offering reflects the strength of grocery-anchored centers. The properties include leases to anchors including Whole Foods Market, Star Market and Dave’s Fresh Marketplace.
The eight Massachusetts properties include Auburndale Plaza in Newton, Brookline Plaza, Horn Pond Plaza in Woburn, Norwood Plaza, Porter Square Shopping Center in Cambridge, Sudbury Plaza, Waltham Plaza and Wellesley Plaza. A Rhode Island property, Pontiac Avenue Plaza in Cranston, also was part of the transaction.
“This portfolio represented a generational opportunity–the first-time offering of the highest-quality, privately-owned collection of shopping centers in New England,” Millerd said in a statement.
