BURLINGTON, MA— KeyPoint Partners, LLC has negotiated the sale of Summit Square, a retail shopping center located in Warwick, Rhode Island. KPP Vice President of Leasing Don Mace represented the seller in the $8,240,000 sale.
Summit Square is a 135,201 square foot center located on heavily-traveled Bald Hill Road (Route 2), accessible from Exits 8 and 10 off Interstate 95. The center’s signalized entrance is shared by Target. Summit Square was purchased by 1276 Bald Hill Road, LLC, a private investor, and operator of FunZ/FunCity, New England’s premier indoor entertainment concept.
“We have transacted with the owner of FunZ/FunCity on a number of disposition assignments over the past several years, and we look to strengthen our relationship with the buyer as he continues to expand throughout the Northeast,” Mace says. “We continue to aggressively source shopping centers that are moderately-priced, preferably with a vacant anchor box for potential acquisition. All sites submitted for sale and/or lease are quickly analyzed.”