New York City-based Katz Properties purchased the 122,718-square-foot shopping center for $15.5 million from Centro Properties Group. The retail center is 85% leased, anchored by a 71,440-square-foot Super Stop & Shop supermarket. The other retailers in 36,778-square-feet, as well as three pad sites, include: 99 Restaurant, Advance Auto Parts, Hallmark Cards, the UPS Store, H&R Block, Domino's Pizza; and a Stop & Shop self-service fueling facility.
Daniel Katz of Katz Properties, in a statement, refers to the plaza as a "stable asset" with a "best in breed anchor tenant". Geoffrey Millerd of Cushman & Wakefield represented both Katz and Centro in the deal. Management of the property will be handled by Lexington, MA-based Summit Realty Partners. Katz Properties has offices in Boston and Philadelphia, along with its New York City headquarters.
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