News: Retail
Posted: August 27, 2015
New England Retail Properties represents Cumberland Farms for 1.3 acres
Earlier this year, Cumberland Farms, a Rhode Island-born and now Massachusetts-based convenience store chain with almost 600 stores in 11 states, added to their new store list by acquiring 1.3 acres at the corner of Cromwell Ave. and France St. from two subsidiaries of New England Retail Properties, Inc. for an undisclosed purchase price.
The subsidiaries, Rue de France, LLC and 741 Cromwell Ave., LLC acquired the properties almost 10 years earlier initially intending on constructing an office building on the site. That changed almost immediately after a traffic signal was installed at the intersection and demand for retail became much more intense.
The desirability of the site as a convenience store was based upon several factors.
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