Property Exchange for Retailers Realty Trust/Remic Properties

BILLERICA, MA-Retailers Realty Trust/Remic Properties completed two investment sale transactions totaling 42,244-sf of space. William Beckeman, partner, and Thomas Blakely, vice president of investment sales at Finard & Company, LLC represented Retailers Realty in both transactions.

In the first deal, Retailers Realty sold 305 Boston Rd. to Carol Ravanis for $1.25 million. The 16,120 sf property is fully leased to AutoZone, ERA Realty, Curves for Women and Escape Spa & Salon.

In the second transaction, Retailers Realty acquired 524-528 South Broadway in Salem, NH. The 26,124 sf property was purchased from Starwood Ceruzzi for $2.85 million and enabled the trust to complete a tax-deferred exchange. Among the property’s tenants are Pep Boys, Leslie Pool Supplies and IHOP. David Wojciechowski of Staubach Realty Services represented Starwood Ceruzzi.