{"id":1004224536,"date":"2018-04-27T07:21:49","date_gmt":"2018-04-27T15:21:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004224536"},"modified":"2022-12-08T20:06:13","modified_gmt":"2022-12-09T04:06:13","slug":"jpa-management-sells-maine-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jpa-management-sells-maine-shopping-center\/","title":{"rendered":"JPA Management Sells Maine Shopping Center"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004224551\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Falmouth-Shopping-Center-in-Falmouth-Maine.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004224551\" data-attachment-id=\"1004224551\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jpa-management-sells-maine-shopping-center\/falmouth-shopping-center-in-falmouth-maine\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Falmouth-Shopping-Center-in-Falmouth-Maine.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.2&quot;,&quot;credit&quot;:&quot;ROBERTO FARREN PHOTOGRAPHY&quot;,&quot;camera&quot;:&quot;FC220&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1507924916&quot;,&quot;copyright&quot;:&quot;ROBERTO FARREN PHOTOGRAPHY&quot;,&quot;focal_length&quot;:&quot;4.73&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.000625&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Falmouth Shopping Center in Falmouth, Maine\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Falmouth Shopping Center, Falmouth, Maine&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Falmouth-Shopping-Center-in-Falmouth-Maine.jpg?w=800\" class=\"wp-image-1004224551 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Falmouth-Shopping-Center-in-Falmouth-Maine.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Falmouth-Shopping-Center-in-Falmouth-Maine.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Falmouth-Shopping-Center-in-Falmouth-Maine.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Falmouth-Shopping-Center-in-Falmouth-Maine.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004224551\" class=\"wp-caption-text\">Falmouth Shopping Center, Falmouth, Maine<\/p><\/div>\n<p>JPA Management has sold Falmouth Shopping Center in Falmouth, Maine, for $21 million. NKF Capital Markets and Porta &amp; Co. negotiated the transaction on behalf of JPA.<\/p>\n<p>Situated along Route 1, six miles north of downtown Portland, Maine, the property is currently 89 percent leased to anchor-tenant Shaw&#8217;s Supermarket, as well as Goodwill, Bank of America, Ocean State Job Lot and Sullivan Tire.<\/p>\n<h2>Brokerage team<\/h2>\n<p>NKF Capital Markets Co-Head of U.S. Capital Markets\u00a0Robert Griffin, Executive Managing Director Geoffrey Millerd and Managing Director Justin Smith, as well as Porta &amp; Co. Broker Mackenzie Simpson oversaw the transaction.<\/p>\n<p><em>&#8220;Falmouth Shopping Center benefits from longstanding grocery tenancy combined with exceptional recent leasing momentum,&#8221;<\/em> said Smith, in a prepared statement. <em>&#8220;It also enjoys limited local grocery competition within an affluent Portland suburb, able to draw consumers from a wide geographic trade area.&#8221;<\/em><\/p>\n<p>Earlier this week, NKF Capital Markets represented DDR in the sale of another shopping center,\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-19m-ny-shopping-center\/\">Southern Tier Crossing in Horseheads<\/a>, N.Y., for $18.5 million.<\/p>\n<p><em>Image courtesy of NKF Capital Markets\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Falmouth Shopping Center is currently 89 percent leased to anchor-tenant Shaw&#8217;s Supermarket, as well as Goodwill, Bank of America, Ocean State Job Lot and Sullivan Tire.<\/p>\n","protected":false},"author":746,"featured_media":1004224551,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,10,21749],"tags":[34932,36007,38539],"class_list":["post-1004224536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-northeast","category-retail","tag-justin-smith","tag-newmark-knight-frank","tag-robert-griffin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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