NORTH READING, Mass.— Atlantic Capital Partners has announced the sale of North Reading Landing, a prominent redevelopment opportunity located in North Reading, Massachusetts, for $7.3 million.
Positioned approximately 15 miles north of downtown Boston, the property represents one of the most significant redevelopment parcels along a major commercial corridor in the region. The site offers new ownership a rare opportunity to transform a highly visible asset within a densely populated suburban market.
The transaction was led by Atlantic Capital Partners’ Justin Smith, Head of Capital Markets; Sam Koonce, Vice President; Chris Peterson, Executive Vice President; Steve Tomasello, Partner; and Leslie Cotter, Senior Associate. The firm exclusively represented the seller and procured the buyer in the transaction.
North Reading Landing encompasses 70,747 square feet and is currently partially occupied by Ocean State Job Lot under a short-term lease agreement. The existing tenancy provides immediate cash flow while allowing flexibility for future redevelopment plans. The property includes a 70,747-square-foot retail building formerly occupied by Stop & Shop, as well as a Stop & Shop fuel station.
“The combination of immediate in-place income and the site’s high-visibility footprint situated in metro Boston gives new ownership an ideal runway to reimagine the site into a dynamic development project that is perfectly positioned to capture the robust regional demand,” said Justin Smith, Head of Capital Markets at Atlantic Capital Partners.
The property benefits from exceptional visibility and accessibility. Located directly on Route 28 (Main Street), which carries more than 19,000 vehicles daily, the site serves as a key commercial destination with convenient access to Interstate 95 and Route 62 (Winter Street). Its strategic location is expected to support a wide range of future development possibilities.
According to Atlantic Capital Partners, the buyer is a joint venture between a leading institutional investment group and a local investor, creating a partnership focused on both community engagement and long-term value creation.
“The buyer is a joint venture between a premier institutional group and a local investor, ensuring the community is gaining a fully engaged development partner dedicated to maximizing the long-term value and utility of this vital commercial hub,” said Steve Tomasello, Partner at Atlantic Retail.
