BROCKTON, MA-Arin Realty of Newton has traded the 43,842-sf Oak Village Crossing shopping plaza here to GBI General Partnership for $4 million. The shopping plaza, which is anchored by a US Post Office and a Family Dollar store, is 100% leased and has a 7.75% capitalization rate. The Amherst, NH-based GBI purchased the property as part of a 1031 exchange involving a New Hampshire asset.

"This property is a neighborhood shopping center that is well-sited in a densely populated area, and as such, we fielded offers from many interested investors,' says Bob Tito, EVP and partner at NAI Hunneman. Tito and VP Jonathan Aron represented the seller, Oak Street Plaza LLC, an affiliate of Arin Realty Co., and procured the buyer.

Built in 1972, Oak Village Crossing is a single-story retail plaza containing 13 tenants, most with NNN leases, and can accommodate an additional pad/kiosk user. Built in 1972, the center sits on 5.3 acres and has an average volume of 18,000 cars per day. The shopping center has three restaurants, a liquor store, an Amvets office and thrift store and a dry cleaner.

"It's a strong price for a convenience-oriented strip center," Aubrey Cannuscio, senior VP of acquisitions for Linear Retail, tells Globest.com. "These properties are affordable to high-leveraged private buyers, but a lot of these properties are not simple to manage," he cautions. "A lot of things need to go right for these types of transactions to be successful. You need to know what you're doing."