Suburban Boston grocery-anchored center trades
JLL Capital Markets arranges sale of the Center of Hudson shopping center in Hudson, Massachusetts
BOSTON, May 19, 2021 – JLL Capital Markets announced today that it has closed the sale of Center at Hudson, an 85,000-square-foot shopping center anchored by Stop & Shop in Boston’s western suburb of Hudson, Massachusetts.
JLL marketed the property on behalf of the seller. NNM Realty Trust, owner of multiple retail shopping centers and other commercial real estate in and around Massachusetts and New Hampshire, purchased the asset.
Center at Hudson is anchored by Stop & Shop, one of the Northeast’s largest supermarket chains and a subsidiary of Ahold Delhaize USA, Inc., the third-largest supermarket operator in the U.S. Ninety-six percent occupied, the center is also home to other internet-resistant restaurant and service tenants such as Expo Nails, The Paper Store, Sperry’s Liquors and Eye Care Center.
The retail property is located at 10 Technology Dr. at the highly visible intersection of Route 85, Washington Street and Technology Drive., which are regional throughfares that connect the property to nearby corporate campuses like Intel that drive traffic to the property. Additionally, Center at Hudson’s proximity to the intersection of Interstates 495 and 290 helps the center draw from a regional trade area, which is densely populated with significant multi-housing inventory due to the low cost of living discount to close-in Boston towns.
JLL Research’s recently released U.S. Grocery Tracker 2021 report discusses how grocery-anchored retail centers continue to be investors’ preferred retail property type. Along with single-tenant grocery assets, JLL anticipates grocery-anchored retail under 100,000 square feet to be one of the most sought-after asset classes during the recovery.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.