News: Retail
Posted: April 28, 2017
NAI Hunneman brokers $6.2 million sale of 136,665 s/f Tyngsboro Crossing
Tyngsboro, MA NAI Hunneman, a leading provider of commercial real estate services, brokered the $6.2 million sale of Tyngsboro Crossing, a 136,665 s/f, retail center located off of Rte. 3.
Executive vice president, David Ross and assistant vice president, Gina Barroso represented the seller and procured the buyer, TCI Development, LLC.
“The property is ideally situated in a strong retail corridor, with a solid mix of national, regional and local tenants,” said Ross. “Tyngsboro Crossing was a true-value add opportunity at 63% occupancy, which made it appealing to a variety of buyers. 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.”
Tyngsboro Crossing is set within one of the main retail corridors in the submarket. The property is anchored by a recently upgraded, 12-screen AMC Theatre. Other tenants include Outback Steakhouse, Dunkin Donuts, Dollar Tree, and JoAnn Fabrics.
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