Newmark announces the $25 million sale of 377 Chauncy Street, a 74,383-square-foot shopping center master leased by Stop & Shop and located in the suburban Boston community of Mansfield, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Geoffrey Millerd and Director Paul Penman, in cooperation with Managing Director Mat Adler, of the firm’s Boston and Mid-Atlantic Capital Markets Groups represented the seller and procured the buyer, Bailard Real Estate Fund.
Located on more than nine acres, 377 Chauncy Street includes a Stop & Shop grocery store, a Stop & Shop gas pad, multiple inline sublease tenants and an expansive parking field comprising more than 400 parking spaces.
“377 Chauncy Street’s grocery anchor, gas pad and inline tenants benefit from strong synergies with one another, generating consistent traffic for the property,” said Geoffrey. “The asset further benefits from a highly visible corner location at a signalized intersection and along a major commercial corridor.”
377 Chauncy Street is situated along Route 140, moments from the intersection of Interstates 95 and 495 and approximately 30 miles southwest of Boston. According to Newmark Research, within a five-mile radius of the property, the population count is 70,900 people with an average annual household income of $118,100.
About Newmark (Nasdaq: NMRK)
Newmark Group, Inc., together with its subsidiaries, is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2019, Newmark generated revenues in excess of $2.2 billion. To learn more, visit nmrk.com or follow @newmark.
