United States : HFF Closes Sale of Trophy Wegmans-anchored Shopping Center in Bostons Urban Core.
Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Meadow Glen, an irreplaceable, trophy-quality shopping center anchored by a high-volume Wegmans grocery store and set just minutes from Downtown Boston.
HFF marketed the property on behalf of a private partnership and procured the buyer, global investment manager DWS Group.
Redeveloped in 2017 by a partnership led by New England Development and designed with consumer in mind, Meadow Glen features a high degree of curb appeal and comprises 291,860 square feet of retail space that is 100% leased. The center features a dynamic tenant roster that is marked by credit and term. In addition to Wegmans, which occupies its space under the terms of a long-term lease, other retailers include Kohls, DICKs Sporting Goods, Marshalls and Petco, providing investors with durable cash flow over the holding period.
Meadow Glen stands out as one of only six shopping centers in the Boston market to be anchored by Wegmans, Americas favorite grocery store.
The HFF investment advisory team included senior managing directors Coleman Benedict, Riaz Cassum and Jim Koury and senior director Ben Sayles.
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|Date:||May 21, 2019|
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