{"id":1004702228,"date":"2024-02-13T08:11:27","date_gmt":"2024-02-13T16:11:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004702228"},"modified":"2024-02-16T07:14:10","modified_gmt":"2024-02-16T15:14:10","slug":"clarion-partners-sells-boston-area-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-sells-boston-area-shopping-center\/","title":{"rendered":"Clarion Partners Sells Boston-Area Shopping Center"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2e79c5d46fa&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"3399\" height=\"2551\" data-attachment-id=\"1004702233\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-sells-boston-area-shopping-center\/brookside-shops\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Brookside-Shops-e1707827087767.jpg\" data-orig-size=\"3399,2551\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;22&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D500&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1682682065&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;32&quot;,&quot;iso&quot;:&quot;10000&quot;,&quot;shutter_speed&quot;:&quot;0.0008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Brookside Shops\" data-image-description=\"&lt;p&gt;Completed in 2002, Brookside Shops comprises two buildings spread on some 10 acres. Image courtesy of Institutional Property Advisors&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Completed in 2002, Brookside Shops comprises two buildings spread on some 10 acres. Image courtesy of Institutional Property Advisors&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Brookside-Shops-e1707827087767.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Brookside-Shops-e1707827087767.jpg\" alt=\"Brookside Shops\" class=\"wp-image-1004702233\" style=\"width:302px;height:auto\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Completed in 2002, Brookside Shops is anchored by Trader Joe&#8217;s. <em>Image courtesy of Institutional Property Advisors<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Crosspoint <\/strong>has purchased Brookside Shops, a 75,529-square-foot shopping center in Acton, Mass., for $21 million. <strong>Clarion Partners<\/strong> sold the asset, according to CommercialEdge data. <\/p>\n\n\n\n<p><strong>Institutional Property Advisors<\/strong>, a division of <strong>Marcus &amp; Millichap<\/strong>, brokered the transaction; Senior Managing Director Jim Koury represented the seller and procured the buyer.<\/p>\n\n\n\n<p>Clarion had acquired the neighborhood center back in 2017 for $33.5 million, the same source shows. <strong>TH Real Estate<\/strong> was the seller and <strong>Newmark<\/strong> brokered the deal.<\/p>\n\n\n\n<p>Brookside Shops came online in 2002 on a 10-acre site. Anchored by Trader Joe\u2019s, the <a href=\"https:\/\/www.commercialsearch.com\/news\/what-lies-ahead-for-retail-in-2024\/\">retail center<\/a> has a diverse mix of national and regional tenants such as Staples, LOFT, X-Golf, Talbots, Laser MD Medspa, KJ\u2019s Caff\u00e9, J. Jill and Chico\u2019s. The property was 87 percent leased at the time of sale.<\/p>\n\n\n\n<p>Located at 145 Great Road, the Greater Boston shopping center is in a wealthy suburb, where the average household income within a 10-mile radius is more than $210,000, according to IPA. Downtown Boston is some 24 miles away.<\/p>\n\n\n\n<p>Due to the metro\u2019s robust fundamentals, the investors keep acquiring new properties across the Greater Boston area, according to a recent Marcus &amp; Millichap report. During the first three quarters of last year, buyers showed major <a href=\"https:\/\/www.commercialsearch.com\/news\/retails-return-is-the-sector-2024s-sleeper-hit\/\">interest in properties<\/a> occupied by national tenants along major state routes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trader Joe&#8217;s anchors the 2002-completed property.<\/p>\n","protected":false},"author":3014,"featured_media":1004702233,"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":[32790,35230,34836,32870],"class_list":["post-1004702228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-investment","category-latest","category-northeast","category-retail","tag-clarion-partners","tag-institutional-property-advisors","tag-marcus-millichap","tag-th-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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