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Tyngsboro Retail Center Sold For $6.2M

TCI Development LLC, an affiliate of Boston-based Sam Park & Co., has acquired Tyngsboro Crossing for $6.2 million.

The 163,665-square-foot retail center off Route 3 is anchored by a recently upgraded 12-screen AMC Theatre. Additional tenants include Outback Steakhouse, Dunkin Donuts, Dollar Tree and JoAnn Fabrics.

NAI Hunneman’s David Ross and Assistant Vice President Gina Barroso represented the seller and procured the buyer.

“Tyngsboro Crossing was a true-value add opportunity at 63 percent occupancy, which made it appealing to a variety of buyers,” Ross said in a statement. “Based on its location as well as improving market fundamentals, leasing up the remaining vacancy should occur relatively quickly, adding further value to an already stable cash flow.”

B&T Daily