Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the exclusive offering of Brookside Shops, a 75,529-square-foot neighborhood shopping center anchored by Trader Joe’s in Acton, Massachusetts. The offering price is $26 million.
“The center is located in the midst of Boston’s wealthiest suburbs, boasting an average household income within a 10-mile radius of over $210,000,” said Jim Koury, IPA senior managing director. “The shopping center is currently 87% occupied and projects a 10-year compounded average growth in rent of over 3.6%.”
Brookside Shops is located approximately 19 miles from Downtown Boston on Route 2A, near Acton’s border with Concord, Massachusetts. The center was constructed in 2002 on over 10 acres. In addition to Trader Joe’s, major tenants are Staples, X-Golf and Talbots. The tenant roster also includes Laser MD Medspa, KJ’s Caffé, Loft, J. Jill, and Chico’s. More information can be found at www.BrooksideIPA.com
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com
