Boston — NKF Capital Markets has completed the sale of Cohasset Village Plaza in Cohasset, MA to Crosspoint Associates.
Executive Managing Director Geoffrey Millerd, Managing Director Justin Smith and Financial Analyst Christian Brannelly of the NKF Capital Markets Boston office, which is led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction of the institutional-quality asset on behalf of Black Creek Capital.
Totaling 49,561 square feet, Cohasset Village Plaza is highlighted by co-tenants CVS, Curtis Liquors and Starbucks. The property serves as a crucial market coverage location for CVS as its next-closest stores are each more than 10 minutes away.
“Situated within Boston’s exclusive South Shore, Cohasset is an extremely difficult market within which to pursue new commercial developments,” said Smith. “This high barrier-to-entry location, combined with Cohasset Village Plaza’s strong tenant roster, generated a competitive process for the asset with a number of interested bidders.”
Cohasset Village Plaza is strategically situated along Route 3A, a key retail corridor and the primary north-south thoroughfare serving the communities along the coast south of Boston. This prime retail destination features three- and five-mile population counts of 17,900 and 46,900 people, respectively, with corresponding average household incomes of $173,600 and $156,900.