{"id":1004716293,"date":"2024-06-06T12:19:59","date_gmt":"2024-06-06T20:19:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004716293"},"modified":"2024-06-11T08:59:58","modified_gmt":"2024-06-11T16:59:58","slug":"boston-area-shopping-center-commands-86m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/boston-area-shopping-center-commands-86m\/","title":{"rendered":"Boston-Area Shopping Center Commands $86M"},"content":{"rendered":"\n

<\/p>\n\n\n

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\"Colony
The tenant roster at Colony Place features more than 50 stores and restaurants. Image courtesy of Newmark Knight Frank<\/em><\/figcaption><\/figure><\/div>\n\n\n

The Rainier Cos. has sold Colony Place, a 393,566-square-foot Class A regional shopping center in Plymouth, Mass., for $86 million.<\/p>\n\n\n\n

DLC Management Corp. acquired the retail center with the help of a $57.9 million loan from Guggenheim Partners, according to public records.<\/p>\n\n\n\n

Rainier acquired the two major retail components<\/a> of the Colony Place mixed-use campus from Saxon Partners back in January 2020. Fortress Investment Group provided financing totaling $72.5 million for the acquisition, CommercialEdge data shows.<\/p>\n\n\n\n

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READ ALSO:<\/strong> How Retail Properties Are Getting Greener<\/a><\/p>\n\n\n\n

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The acquired retail components consist of The Plaza\u2014a 230,497-square-foot power center\u2014and The Village\u2014a 188,473-square-foot lifestyle center. Over the past four years, the management team enhanced the tenant list, boosted occupancy rates and sold several individual parcels.<\/p>\n\n\n\n

Anchored by Aldi and shadow-anchored by Walmart Supercenter, Colony Place has a diverse mix of national and regional tenants including Olive Garden, Best Buy, Dick\u2019s Sporting Goods, Burlington, Michaels, TJ Maxx, Bath & Body Works, Ulta Beauty, Five Below, Game Stop and Starbucks, among others.<\/p>\n\n\n\n

Boston’s retail scene<\/h2>\n\n\n\n

Located at 100 and 200 Colony Place, the shopping center<\/a> is within Boston\u2019s Plymouth County submarket. The property is close to the confluence of Route 3 and Route 44, the main junction which links Boston to southern Massachusetts and Cape Cod.<\/p>\n\n\n\n

Boston\u2019s robust consumer spending and limited supply of new space keeps the retail real estate market strong, according to a recent Marcus & Millichap report. With vacancy rates dropping below 3 percent for the first time in over five years, the average asking rent is expected to rise to $21.85 per square foot, according to the same source.<\/p>\n","protected":false},"excerpt":{"rendered":"

DLC Management Corp. purchased the suburban property.<\/p>\n","protected":false},"author":3014,"featured_media":1004393327,"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":[34835,34375,34089,47072],"class_list":["post-1004716293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-investment","category-latest","category-northeast","category-retail","tag-dlc-management-corporation","tag-fortress-investment-group","tag-guggenheim-partners","tag-the-rainier-companies"],"acf":[],"yoast_head":"\nBoston-Area Shopping Center Commands $86M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"The Rainier Cos. has sold Colony Place, a 393,566-square-foot Class A regional shopping center in Plymouth, Mass., for $86 million.\" \/>\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\/boston-area-shopping-center-commands-86m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boston-Area Shopping Center Commands $86M\" \/>\n<meta property=\"og:description\" content=\"The Rainier Cos. has sold Colony Place, a 393,566-square-foot Class A regional shopping center in Plymouth, Mass., for $86 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/boston-area-shopping-center-commands-86m\/\" \/>\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=\"2024-06-06T20:19:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T16:59:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/Colony-Place-Signage.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\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\/boston-area-shopping-center-commands-86m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/boston-area-shopping-center-commands-86m\/\",\"name\":\"Boston-Area Shopping Center Commands $86M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boston-area-shopping-center-commands-86m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boston-area-shopping-center-commands-86m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/Colony-Place-Signage.jpg\",\"datePublished\":\"2024-06-06T20:19:59+00:00\",\"dateModified\":\"2024-06-11T16:59:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"The Rainier Cos. has sold Colony Place, a 393,566-square-foot Class A regional shopping center in Plymouth, Mass., for $86 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boston-area-shopping-center-commands-86m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/boston-area-shopping-center-commands-86m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boston-area-shopping-center-commands-86m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/Colony-Place-Signage.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/Colony-Place-Signage.jpg\",\"caption\":\"Colony Place. 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