NKF Brokers Sale of Boston-Area Retail Plaza
- Dec 19, 2017
Newmark Knight Frank (NKF) Capital Markets has arranged the sale of Cohasset Village Plaza in Cohasset, Mass. Crosspoint Associates purchased the retail asset from Black Creek Capital.
The shopping center encompasses 49,561 square feet and is situated along Route 3A, a significant retail corridor for the coastal communities south of Boston. CVS, Curtis Liquors and Starbucks are anchor tenants. For CVS, the property represents an important location, as the retailer’s nearest stores are around ten miles from the site.
Strong Tenant Roster
The NKF Capital Markets team in the firm’s Boston office—including Executive Managing Director Geoffrey Millerd, Managing Director Justin Smith and Financial Analyst Christian Brannelly—handled the transaction on behalf of the seller.
“Situated within Boston’s exclusive South Shore, Cohasset is an extremely difficult market within which to pursue new commercial developments,” said Smith, in prepared remarks. “This high barrier-to-entry location, combined with Cohasset Village Plaza’s strong tenant roster, generated a competitive process for the asset with a number of interested bidders.”
Earlier this month NKF arranged the $27 million sale of a retail portfolio in West Lebanon, N.H., comprising three shopping centers.
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