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Woburn Plaza Sold to Boston Developer for $11.2M

Photo courtesy of CBRE

A Woburn retail property was acquired for $11.2 million by Boston-based Chestnut Realty Management from a Burlington developer that’s owned the property since 2012.

The Woburn Plaza at 299 Mashawum Road totals nearly 32,000 square feet and includes tenants West Marine, Eastern Bank and Mattress Firm.

The seller was Linear Retail Properties, which acquired the property from Office Depot Inc. for $5.4 million in 2021.

Boston-based Chestnut Realty Management has a 1.3 million-square-foot commercial real estate portfolio and specializes in retail, industrial and multifamily properties.

CBRE’s Nat Heald, Kyle Juszczyszyn, Connor Scott, and Jordana Roet represented the seller.

“Small shop retail centers have matured into the ‘it’ product type within the retail landscape,” Heald said in a statement. “Woburn Plaza received tremendous attention from the market based on its manageable size and prime location.”

Commercial & Industrial