By Ioana Neamt, Associate Editor
Marcus & Millichap’s Boston office recently arranged the sale of a retail asset located in Brockton, Mass.
The 65,425-square-foot Stop & Shop at 932 N. Montello St. sold for $18.7 million—$286 per square foot—to an undisclosed buyer. Robert Horvath, vice president of investments in Marcus & Millichap’s Boston office, represented the seller in the transaction and also procured the buyer.
“An on-site Stop & Shop fuel station and a pad site with up to 4,000 square feet of potential expansion space were included in the sale,” said Horvath. “Eight years remain on Stop & Shop’s original Royal Ahold N.V.-guaranteed, 20-year double-net lease.”
The Stop & Shop store is conveniently located near the Montello commuter rail station and Route 28 in Brockton. Other major tenants in the area include Walmart, Dollar Tree, McDonald’s, Walgreens, and KFC/Taco Bell.
Image courtesy of Marcus & Millichap