{"id":1004767599,"date":"2025-08-06T03:47:41","date_gmt":"2025-08-06T11:47:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004767599"},"modified":"2025-08-06T05:39:35","modified_gmt":"2025-08-06T13:39:35","slug":"urban-edge-lands-124m-for-boston-area-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/urban-edge-lands-124m-for-boston-area-retail-asset\/","title":{"rendered":"Urban Edge Lands $124M for Boston-Area Retail Asset"},"content":{"rendered":"
\n
\"Bergen<\/a>
Urban Edge Properties also owns Bergen Town Center in Paramus, N.J. Image courtesy of Urban Edge Properties<\/em><\/figcaption><\/figure><\/div>\n\n\n

Urban Edge Properties has obtained a $123.6 million interest-only, non-recourse loan tied to a segment of Shoppers World, a 752,000-square-foot retail center in Framingham, Mass.<\/p>\n\n\n\n

The four-year loan bears a fixed rate of 5.12 percent. The borrower used a portion of the proceeds to pay off its $90 million revolving credit facility, which had a 5.48 percent interest rate.<\/p>\n\n\n\n

Urban Edge acquired the open-air shopping center from SITE Centers for $187.1 million in 2023, according to Yardi Research Data. <\/p>\n\n\n\n

\n\n\n\n

READ ALSO:<\/strong> Retail\u2019s Resilience Draws Private Capital Back<\/a><\/p>\n\n\n\n

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Urban Edge currently owns 72 retail assets totaling 17.1 million square feet, primarily located in urban markets along the Washington, D.C.\u2013Boston corridor. The portfolio aligns with broader retail industry trends<\/a> of owning property in high-density and transit-accessible locations.<\/p>\n\n\n\n

A closer look at Shoppers World<\/h2>\n\n\n\n

Shoppers World was one of the first suburban shopping centers in the U.S. upon its 1951 opening. The property was redeveloped into a so-called shopping park in 1992 and underwent more renovation in the subsequent years.<\/p>\n\n\n\n

The now LEED Green-certified center has a roster that includes a diverse mix of local, regional and national retailers such as Best Buy, Five Below, Marshalls, Macy\u2019s, Kohl\u2019s, TJ Maxx, ULTA Beauty, AMC Theaters, PetSmart, Chipotle, Chick-fil-A and Olive Garden, among others.<\/p>\n\n\n\n

Shoppers World occupies 150 acres at 1 Worcester Road in the middle of the Golden Triangle, the largest retail destination in Greater Boston. The open-air shopping center serves approximately 156,495 individuals within a 5-mile radius, with the average household income of $183,707, according to Urban Edge data of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property was one of the first suburban shopping centers to be built in the U.S.<\/p>\n","protected":false},"author":3014,"featured_media":1004657188,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21808,21825,21742,10,21749],"tags":[32779,48215,33593],"class_list":["post-1004767599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-featured","category-finance","category-latest","category-northeast","category-retail","tag-leed","tag-site-centers-corp","tag-urban-edge-properties"],"acf":[],"yoast_head":"\nUrban Edge Lands $124M for Boston-Area Retail Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Urban Edge Properties obtained a $123.6 million loan tied to Shoppers World, a 752,000-square-foot retail center in Framingham, 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\/urban-edge-lands-124m-for-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=\"Urban Edge Lands $124M for Boston-Area Retail Asset\" \/>\n<meta property=\"og:description\" content=\"Urban Edge Properties obtained a $123.6 million loan tied to Shoppers World, a 752,000-square-foot retail center in Framingham, Mass.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/urban-edge-lands-124m-for-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=\"2025-08-06T11:47:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-06T13:39:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Bergen-Town-Center-e1681377273377.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1107\" \/>\n\t<meta property=\"og:image:height\" content=\"831\" \/>\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\/urban-edge-lands-124m-for-boston-area-retail-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-lands-124m-for-boston-area-retail-asset\/\",\"name\":\"Urban Edge Lands $124M for Boston-Area Retail Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-lands-124m-for-boston-area-retail-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-lands-124m-for-boston-area-retail-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Bergen-Town-Center-e1681377273377.jpg\",\"datePublished\":\"2025-08-06T11:47:41+00:00\",\"dateModified\":\"2025-08-06T13:39:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Urban Edge Properties obtained a $123.6 million loan tied to Shoppers World, a 752,000-square-foot retail center in Framingham, Mass.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-lands-124m-for-boston-area-retail-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/urban-edge-lands-124m-for-boston-area-retail-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-lands-124m-for-boston-area-retail-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Bergen-Town-Center-e1681377273377.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Bergen-Town-Center-e1681377273377.jpg\",\"width\":1107,\"height\":831,\"caption\":\"Bergen Town Center. 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