BOSTON– The Aubuchon Realty Company, Inc., (ARC, Inc.), a diversified commercial real estate firm that is celebrating its 90th year of operation, completed the $6.6 million acquisition of Dodge Crossing in Beverly, Massachusetts.
ARC is aggressively pursuing commercial real estate investments throughout the Eastern United States, with a particular focus on retail opportunities.
Dodge Crossing is a multi-tenant retail plaza constructed in 1973 and renovated in the past year. The 21,350-square-foot center on a 1.3-acre parcel was enhanced with an updated façade and new parking lot. Citizens Bank and Mattress Firm anchor the plaza, which benefits from a highly visible location at the intersection of Enon Street and Dodge Street (MA Route 1A) in North Beverly.
The all-cash transaction closed on July 26, 2022.
Downtown Beverly is a rapidly growing submarket in Boston’s North Shore, with more than 300 independently owned businesses, 12,000-plus residents and two colleges (Endicott College and Montserrat College of Art). It was named one of the top 50 small business shopping destinations in the U.S. by Small Business Trends and recognized as one of Greater Boston’s “Top Spots to Live in” by the Boston Globe.
“Dodge Crossing is a strong retail asset in a desirable Boston submarket,” ARC President, Eamon Moran said. “We have a major appetite, and the dry-powder to go with it, for middle-market retail acquisitions like this and look forward to announcing similar transactions in the quarters ahead.”
A vertically integrated firm with in-house acquisition and development capabilities, ARC is currently targeting commercial real estate investments in the middle-market space between $5 million and $20 million.
ARC’s existing portfolio exceeds 55 assets totaling more than 1 million square feet throughout Massachusetts, New York, Connecticut, Rhode Island, New Hampshire, Vermont and Maine. ARC’s investment strategy utilizes its local expertise and institutional knowledge to generate attractive returns for its shareholders, while positively impacting the communities where it invests.