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Shopping Center Sells for Nearly $5M

FALL RIVER, MA-In the latest in a series of shopping center sales throughout eastern Massachusetts, Flint Village Plaza, a 45,000-sf retail shopping center at 933 Pleasant St. sells to Pivotal Properties LLC for $4.7 million.

By Naomi Grossman | Updated on March 23, 2004

FALL RIVER, MA-Flint Village Plaza, a 45,000-sf retail shopping center at 933 Pleasant St. was sold by Flint Village LLC. Pivotal Properties LLC acquired the center for $4.7 million. The center is fully occupied with 13 national and local business tenants including Brooks Pharmacy, Radio Shack, Hollywood Video and Domino’s Pizza.

The deal is indicative of the state of Greater Boston’s retail market, where investors are looking to sink their money into these types of properties. The collapse of the stock market, the weak office market and the favorable debt market have all combined to make shopping centers one of the area’s most appealing investments. The fact that the area’s retail market remains extremely healthy with occupancy rates as high as 95% in some areas has made the properties even more attractive to investors with grocery-anchored centers considered the most valuable in the market.

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