Atlantic Capital Sells Springfield Plaza for $10.2M to Local Investors

SPRINGFIELD — Atlantic Capital Partners has brokered the sale of Boston Commons Plaza, a 103,494-square-foot community shopping center located in Springfield, Massachusetts, for $10.2 million to Sherborn-based Boston 800 Partners LLC. Located along Springfield’s principal commercial and retail corridor, Boston Road, the asset is surrounded by a robust mix of national and regional tenants that generate exceptional daily consumer traffic.

Currently 98% leased, the Kohl’s-anchored center boasts a stable weighted average remaining lease term of 5+ years. Kohl’s, whose significant remaining lease term and recent store improvements underscore both asset and tenant viability. Matt Ericson, Associate at Atlantic Capital Partners, added, “The sale of Boston Commons represents a unique transaction defined by Kohl’s long-term anchor commitment, highlighting sustained demand for well-positioned, long-term big-box retail in productive markets.”

The transaction was led by Justin Smith, Head of Capital Markets; Chris Peterson, Executive Vice President; Danielle Turpin, Senior Associate; and Matt Ericson, Associate. Atlantic Capital Partners exclusively represented the seller, RCG Ventures of Atlanta.

The institutional-quality asset benefits from prime visibility and accessibility on Boston Road, a heavily trafficked thoroughfare seeing over 17,000 vehicles per day. Serving as a critical retail destination for the eastern portion of Springfield, the property offers the buyer a resilient cash-flow stream with built-in upside. Justin Smith, Head of Capital Markets at Atlantic Capital Partners, commented, “Demand remains robust for well-located retail centers with proven tenant performance and permanence. Boston Commons’ strategic positioning along Springfield’s dominant retail corridor, paired with its near-total occupancy, made this a highly attractive acquisition for the purchaser.”