RK Centers acquires 72,220 s/f freestanding building for $7.2 million

Freestanding building, Route 110 - Chelmsford, MA

Chelmsford, MA RK Centers has acquired a freestanding 72,220 s/f building occupied by Stop & Shop for $7.2 million. The sale was brokered by Geoffrey Millerd of NGKF Capital Markets.

The property is located on Rte. 110 immediately adjacent to the Rte. 3 interchange at Exit 31.  It also offers convenient access to Interstate 495 at Exit 35. “We really like the long term fundamentals of the property given the regional access and the demographic profile within the trade area” said David Katz, principal of RK Centers.

Area retailers include Market Basket, Kohl’s, TJ Maxx, Michaels, and Staples

RK Centers has been quite active in the acquisition of properties in New England, purchasing 13 properties totaling approximately 1.5 million s/f over the past 24 months.