NAI Hunneman Commercial negotiated the deal on behalf of the seller. Robert Tito, executive vice president and principal of NAI Hunneman, says that the retail center was 62% occupied at the time of the sale. "The buyer saw an upside in renting the space," he adds.

The property sits on approximately 24 acres and contains 93,526 sf of retail space and 12,510 sf of office space. The center is anchored by Price Chopper Supermarket. "This was an important sale of a vibrant Western Massachusetts retail center. An extraordinary property like Wachusett Plaza represented an uncommon buying opportunity," says Tito.

The deal is just one in a series of recent retail center sales. The vagaries of the stock market as well as the weakened office market have made retail centers the area's most sought after properties for investors with grocery-anchored centers considered the most attractive investment.