FRAMINGHAM, MA– In a major financing deal within the Boston metropolitan retail market, JLL Capital Markets has announced it has arranged $123.6 million in financing for a portion of Shoppers World, a 752,000-square-foot retail powerhouse located in Framingham, Massachusetts.
JLL worked on behalf of the borrower, Urban Edge Properties, to secure a four-year, fixed-rate loan for the highly successful open-air shopping center. The transaction further solidifies Shoppers World’s position as one of the most dominant retail assets in the region.
Strategically located at 1 Worcester Road, at the critical intersection of Route 9 and Route 30, Shoppers World boasts exceptional visibility and accessibility. The center benefits from proximity to several major highways, including I-90 (Mass Pike), I-95, and I-495, providing seamless connectivity to Boston and the surrounding suburbs.
Currently 99% leased, the property is anchored by a robust mix of national retailers including T.J. Maxx, Marshalls, HomeSense, Sierra Trading Post, Best Buy, and Dick’s Sporting Goods. According to JLL, investment-grade tenants account for 54% of gross rent, and 97% of the gross leasable area is occupied by national brands, underscoring the asset’s strong leasing profile.
“With eight million annual visitors and over $100 million in reported sales volume, Shoppers World has established itself as the number one shopping center destination within a 15-mile radius,” said Scott Aiese, who led the financing effort on behalf of JLL alongside Alex Staikos, Amy Lousararian, and Parker Morrison.
“Shoppers World represented an exceptional financing opportunity given its dominant market position, diverse tenant mix, and strong performance metrics,” added Staikos.
The financing comes at a time when well-located, experience-driven retail centers continue to perform strongly, particularly those anchored by off-price and big-box tenants. Urban Edge Properties, which specializes in retail real estate across urban markets in the Northeast and Mid-Atlantic, continues to leverage prime assets like Shoppers World to attract both capital and customers.
