Aubuchon Realty Picks up Beverly’s Dodge Crossing In All-Cash $6.6M Deal Via Horvath & TremblayAugust 02, 2022
BEVERLY — The Concord MA-based Aubuchon Realty Company, Inc., (ARC, Inc.) has completed the $6.6 million acquisition of Dodge Crossing in Beverly, Massachusetts. ARC is aggressively pursuing commercial real estate investments throughout the Eastern United States, with a particular focus on retail opportunities. The all-cash transaction closed on July 26, 2022. Bob Horvath, Todd Tremblay and Hobart Hare of Horvath & Tremblay structured the trade and procured the buyer, ARC.
Dodge Crossing is a multi-tenant retail plaza constructed in 1973 and renovated in the past year. The 21,350-square-foot center on a 1.3-acre parcel was enhanced with an updated facade and new parking lot. Citizens Bank and Mattress Firm anchor the plaza, which benefits from a highly visible location at the intersection of Enon Street and Dodge Street on Route 1 in North Beverly.
“Dodge Crossing is a strong retail asset in a desirable Boston submarket,” ARC President, Eamon Moran said. “We have a major appetite, and the dry-powder to go with it, for middle-market retail acquisitions like this and look forward to announcing similar transactions in the quarters ahead.”
A vertically integrated firm with in-house acquisition and development capabilities, ARC is currently targeting commercial real estate investments in the middle-market space between $5 million and $20 million, according to Moran.
ARC’s existing portfolio exceeds 55 assets totaling more than 1 million square feet throughout Massachusetts, New York, Connecticut, Rhode Island, New Hampshire, Vermont, and Maine.Todd Tremblay Robert Horvath Eamon Moran