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Sun, Sep 23
A Compendium of Property & Capital News
Sun
Sep 23
A Compendium of Property & Capital News

Best-in-Class Retail Asset Changes Hands—Newmark Facilitates Sale of Middlesex Marketplace

January 09, 2018 - By The Real Reporter
68 Burlington Mall Road, Burlington MA

BOSTON— Newmark’s Capital Markets team recently completed the sale of Middlesex Marketplace in Burlington to a private real estate fund advised by Crow Holdings Capital Partners-Real Estate (CHC-RE). Executive Managing Director Geoffrey Millerd, Managing Director Justin Smith, Associate Director Paul Penman, and Financial Analyst Christopher Peterson of the NKF’s Boston office oversaw the transaction of the newly-constructed retail property on behalf of a private seller.

Constructed in 2013 and totaling 38,243 square feet, Middlesex Marketplace features food and service-oriented tenants and resides as a best-in-class retail asset. Highlighted by a freestanding build-to-suit for Del Frisco’s Grille, the property enjoys a strategic location along Middlesex Turnpike, a major retail corridor with an average daily traffic count of 37,400 vehicles.

“Middlesex Marketplace represents an exceptional property for CHC-RE as the firm continues its expansion into New England,” lauds Smith. Smith also cited how this property will complement the buyer’s latest purchase. “Most recently, the buyer acquired The Shops at Mall Road, a 31,623-square-foot retail asset located moments away from the subject property, in a transaction also orchestrated by our team.”

The sale of Middlesex Marketplace only underlines the vibrancy of Burlington’s retail and restaurant scene. As one of suburban Boston’s most prolific office markets, Burlington’s thriving restaurant space is consistently targeted by traditionally urban dining concepts. With blue-chip employers including Aetna, Keurig Green Mountain, Lahey Hospital & Medical Center, Millipore Sigma, Nuance, Oracle and Veracode, the town boasts a daytime population of 94,500 people.

Paul Penman Justin Smith Geoffrey Millerd