Uxbridge Center Sold For $15.3M
A Springfield-based real estate investment firm has purchased the Uxbridge Center shopping plaza for $15.28 million.
Deed records indicate that Uxbridge SC LLC, an affiliate of Chestnut Realty Partners, bought the Hannaford-anchored shopping center Dec. 18 from Uxbridge Center LLC, an affiliate of Cambridge-based Unison Realty Partners.
Bill Steinberg, Chestnut Realty Director of Acquisitions, said his group was attracted to the 75,977-square-foot retail complex due to its good sales volume and high-quality tenants.
“People always need to buy groceries,” Steinberg said. “They’re a pretty safe investment.”
The Uxbridge Center is leased out and not in need of any upgrades, Steinberg said. Chestnut Realty intends to hold onto the North Main Street property for the long term.
Unison Realty held onto the Uxbridge Center for just a little over two years, having purchased the property in August 2011 for $11.25 million.
This is Chestnut’s first retail property, Steinberg said. The company was formed in August 2012 and has already acquired four industrial and multi-family properties in Greater Boston and the Connecticut River Valley.
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