CBRE/NE Pitching 135,000-SF Retail Center

REVERE — Continuing to shift its Bay State portfolio, Invesco Real Estate Advisors is placing Wonderland Marketplace up for sale, having retained CBRE/ New England as exclusive listing agent for the 135,000-sf grocery anchored shopping center that one estimate says could reap more than $30 million. “It’s true,” CBRE/NE principal Christopher Angelone confirms this week of being tabbed for the assignment. In declining to discuss property specifics, or to offer pricing goals, Angelone reports that retail interest has expanded from the pure urban trophy assets dominating CRE sales after the 2008 recession to now include “best-in-class” properties that have proven themselves over time, as observers maintain Wonderland Marketplace has since being developed in 1996 by National Development. Invesco acquired the asset at 151 VFW Parkway for $11.7 million in June 2000. Suitors will likely be enticed by a lineup of brand-name retailers, including Stop & Shop Supermarket, Marshall’s and Staples. Consumer demographics indicate the 15.5-acre property is located in one of New England’s most densely populated areas. Just five minutes from downtown Boston, Revere is home to 52,000 residents, and the 2011 estimated population is 406,000 in a five-mile radius. The median annual household income is $161,138.The MBTA Blue Line is across the street,providing another source of customers. According to one document, Angelone is being joined by four investment sales colleagues in pitching the property, including principals James Koury and William Moylan, as well as Nat Heald and Kevin Huther. CBRE/NE and Invesco are familiar with each other on the other side of the aisle, with CBRE/NE last year handling the blockbuster sales of 350 Washington St. and 179 Lincoln St., both in downtown Boston, to Texas-based Invesco.