BELLINGHAM, MA- SVN | Parsons Commercial Group | Boston has completed the sale of a 56,300-square-foot shopping center at 15 North Main Street in Bellingham, MA to VTT Mom + Pop Retail, LLC for $3,765,000.
Senior Advisors Marilyn Santiago and Garrett Quinn of SVN | Parsons Commercial Group | Boston represented the buyer, VTT Mom + Pop Retail, LLC. The seller, Rick Kaplan of Bellingham Plaza, LLC, represented himself in the transaction.
The property is a three building multi-tenant plaza located just outside the Greater Boston region in Bellingham, MA named “The Shopping Plaza at Bellingham Commons”. This 56,300 square foot plaza is conveniently located in the center of Bellingham by the Route 126 and Route 140 intersection. It is approximately 2-3 miles off Route 495 at exits 17 or 18.
The Shopping Plaza at Bellingham Commons hosts a wide array of businesses including auto, education, fitness, health & beauty, pets, professional services, restaurants and shopping.
“With over 20 diverse tenants and easy access to the plaza, it has become a one-stop destination for many in the community,” commented Santiago. “Although we have seen a decline in the market for larger big box retail centers, well located neighborhood centers are viable, especially in suburban communities such as Bellingham, MA,” added Santiago. “Investors can acquire value rich properties at opportunistic prices, less competition, and more supply of quality real estate when compared to gateway cities.”