BOSTON– Marcus & Millichap (NYSE: MMI) announced the sale of Leominster Plaza, a 20,279-square-foot anchored retail center in Leominster, Massachusetts, for $7.2 million.
“After considering offers from multiple buyers, we ultimately settled on a buyer with other similar properties in the area,” said Adam Cohen, first vice president investments. “They found the combination of service-oriented tenants, some of whom have corporate-backed leases, very attractive.”
Cohen and Brett Kilar of the Cohen Group, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller and procured the buyer.
Located at 20 Commercial Road, the plaza sits on a 2.02-acre parcel and is anchored by ConvenientMD, which has more than 13 years remaining on its lease. Other tenants include GEICO, ARA Leominster Dialysis and Kids Care+, all operating under triple-net leases.
The property is adjacent to Route 2 and sits within the largest retail hub in the area, near the 744,000-square-foot Mall at Whitney Field and national retailers such as CVS, Starbucks and The Home Depot.
