BOSTON, MA – Holliday Fenoglio Fowler, L.P. (HFF) announced that it has closed the $33.3 million sale of Holyoke Crossing, a 140,361-square-foot retail power center in Holyoke, Massachusetts.
HFF represented the sellers, Holyoke Crossing Limited Partnership and Holyoke Crossing Limited Partnership II, and procured the buyer, Prestige Properties & Development Co., Inc. The property was sold free and clear of debt.
Holyoke Crossing is located at 7-45 Holyoke Street adjacent to the super-regional Holyoke Mall in the Springfield area of western Massachusetts. This location, along Interstate 91 and less than one mile from the Massachusetts Turnpike, has access to a trade area of more than 1.32 million people within a 30-mile radius, including students and faculty at the surrounding five colleges of Amherst College, Smith College, University of Massachusetts, Mount Holyoke College and Hampshire College. Holyoke Crossing is fully leased to tenants, including TJ Maxx, Bed Bath & Beyond, PETCO and Ulta Cosmetics.
The HFF investment sales team representing the sellers was led by senior managing director Jim Koury.
According to Koury, “Holyoke Crossing is a very attractive shopping center that has the advantage of being the only shopping center adjacent to a healthy 1.6 million-square-foot, super-regional mall as well as being strategically positioned directly at the Interstate entrance that services the mall.”
