Picture by Karsten Winegeart by way of Unsplash
Benderson Growth has acquired 330-340 River St., a 54,226-square-foot retail asset in Cambridge, Mass. Newmark brokered the $26.4 million transaction on behalf of the vendor, Acadia Realty Belief.
The property encompasses a two-story, 40,800-square-foot Complete Meals Market and an adjoining 13,426-square-foot Walgreens retailer. The bigger constructing was custom-built for the retailer in 2001.
Situated within the Cambridgeport neighborhood, the asset sits between Harvard College and Massachusetts Institute of Know-how. Downtown Cambridge is a few 4 miles from the property, whereas H Mart Cambridge, Goal, Dealer Joe’s and Black Sheep Market are additionally close by.
Acadia Realty Belief acquired capital markets advisory providers from Newmark’s Boston Capital Markets group, which included Co-Head Robert Griffin, Vice Chairman Geoffrey Millerd, in addition to Managing Administrators Jon Martin and Paul Penman.
Whereas demand for different asset courses could have slowed down, high-quality retail investments stay very liquid, stated Penman in a ready assertion. In a current deal, a 65,155-square-foot Complete Meals Market parcel at Plymouth Assembly Mall in Plymouth Assembly, Pa., modified arms. Earlier this month, a partnership between Grossman Growth Group, Lengthy Time period Capital and Fairness Industrial additionally invested in a grocery-anchored asset in Westborough, Mass.
