Steve Samuels, known for his development makeover of the neighborhood surrounding Boston’s Fenway Park, has sold his Riverway Plaza shopping center in Weymouth.

The developer’s firm, Samuels & Assoc., sold the fully occupied, 245,000-square-foot retail plaza to CBRE Global Investors. The sales price was not disclosed.

The shopping plaza was built at 795 Bridge St. along Route 3A in 2002. Lowe’s Home Improvement, Michael’s, Staples and other chain stores populate most of the storefronts. CBRE New England brokered the deal.

"Riverway Plaza is an attractive investment given its roster of national credit tenants, frontage on Route 3A and location just 12 miles south of downtown Boston in the midst of one of eastern Massachusetts’ most desirable demographics," said CBRE New England’s Bill Moylan in a statement. "Ultimately, this was a very competitive process that attracted bidders from the local market as well as across the country."

The local retail real estate market has been unexpectedly frothy, especially after the bottom dropped out on many retailers as a result of Internet shopping and the recent recession. Today’s inexpensive rates for debt, coupled with such low interest rates offered for bonds, are pushing many investors to consider purchasing retail centers for their higher return rates, said James Koury, senior managing director and retail expert for Holliday Fenoglio Fowler. HFF is currently marketing about $500 million of retail assets for sale.

"No one saw this kind of pricing in hyper-core and core assets coming," Koury said. "Even retail that’s more marginal, B-rated properties, are garnering very strong pricing. It’s a temporary situation, that’s what owners learned in 2007, and the market can change. So they’re saying, you know what, I’ll realize the pricing of our property while the getting’s good."