{"id":1004646499,"date":"2023-02-20T05:36:28","date_gmt":"2023-02-20T13:36:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004646499"},"modified":"2023-02-20T05:42:57","modified_gmt":"2023-02-20T13:42:57","slug":"benderson-buys-boston-area-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/benderson-buys-boston-area-retail-asset\/","title":{"rendered":"Benderson Buys Cambridge Retail Asset"},"content":{"rendered":"
\"Whole<\/a>

Image by Karsten Winegeart via Unsplash<\/p><\/div>\n

Benderson Development<\/strong> has acquired 330-340 River St., a 54,226-square-foot retail asset in Cambridge, Mass. Newmark<\/strong> brokered the $26.4 million transaction on behalf of the seller, Acadia Realty Trust<\/strong>.<\/p>\n

The property encompasses a two-story, 40,800-square-foot Whole Foods Market and an adjacent 13,426-square-foot Walgreens store. The larger building was custom-built for the retailer in 2001.<\/p>\n

Located in the Cambridgeport neighborhood, the asset sits between Harvard University and Massachusetts Institute of Technology. Downtown Cambridge is some 4 miles from the property, while H Mart Cambridge, Target, Trader Joe\u2019s and Black Sheep Market are also nearby.<\/p>\n

Acadia Realty Trust received capital markets advisory services from Newmark’s Boston Capital Markets group, which included Co-Head Robert Griffin, Vice Chairman Geoffrey Millerd, as well as Managing Directors Jon Martin and Paul Penman.<\/p>\n

While demand for other asset classes may have slowed down, high-quality retail investments remain very liquid, said Penman in a prepared statement. In a recent deal, a 65,155-square-foot Whole Foods Market parcel<\/a> at Plymouth Meeting Mall in Plymouth Meeting, Pa., changed hands. Earlier this month, a partnership between Grossman Development Group, Long Term Capital and Equity Industrial also invested in a grocery-anchored asset<\/a> in Westborough, Mass.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property encompasses a two-story Whole Foods Market and a Walgreens store.<\/p>\n","protected":false},"author":3030,"featured_media":1004646507,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21783,21742,10,21749],"tags":[38205,41030,50999],"class_list":["post-1004646499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-investment","category-latest","category-northeast","category-retail","tag-acadia-realty-trust","tag-benderson-development","tag-newmark"],"acf":[],"yoast_head":"\nBenderson Buys Cambridge Retail Asset - CPE<\/title>\n<meta name=\"description\" content=\"Benderson Development has acquired 340 River Street, a 54,226-square-foot retail center in Cambridge, Mass.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-boston-area-retail-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Benderson Buys Cambridge Retail Asset\" \/>\n<meta property=\"og:description\" content=\"Benderson Development has acquired 340 River Street, a 54,226-square-foot retail center in Cambridge, Mass.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-boston-area-retail-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-20T13:36:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-20T13:42:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/karsten-winegeart-l9ChMHOa8nc-unsplash.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"903\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-boston-area-retail-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-boston-area-retail-asset\/\",\"name\":\"Benderson Buys Cambridge Retail Asset - 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