12b

new england real estate journal shopping centers september 23 - 29, 2011

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RK Associates 201,000 s/f RK Swansea Place holds grand reopening

According to RK Associates, RK Swansea Place recently held its grand re-opeing. The 201,000 s/f redevelopment project is anchored by Target and Marshalls and will also include Famous Footwear, Five Guys Burgers and Fries, Sleepys, Radio Shack, Weight Watchers, and Sally Beauty. The center is located on Rte. 6, east of Exit 3 off Rte. 195. Targets commitment to the project was the catalyst to the revitalization of the shopping center. In its previous life, the center was anchored by Kmart (later replaced by Building 19). After Building 19s closing in 2007, the center had suffered from a significant amount
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Synergy/Independencia joint venture purchases 101 Summer St., Boston for $11.5 million

70,113 s/f office building sold by oasis longwater, llc to Jumbo capital management, llc

Mitchell and Rader of Rader Properties broker $7.9m sale of 600 Longwater Dr.
june

June 10 - 16, 2011

Hi-LigHts
the stubblebine co. reps fragale building corp. in $775,000 purchase
Micah Stubblebine and David Stubblebine of The Stubblebine Co. represented the seller, Merwin H. Craig and directly procured the buyer. see page 10a

Rader Properties has brokered the sale of 600 Longwater Dr. The 70,113 s/f office building
norwell, ma

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david mitchell

600 longwater dr., norwell, mass.

rK swansea Place, swansea, Mass. of vacancy. However, the direction of the center changed once Target was on board. The center was comprehensively renovated as part of the process. A significant amount of demolished space was replaced with new buildings, which resulted in 31,000 s/f of new retail space. Other improvements included a traffic signal with road widening, new parking field, pylon signs, landscaping, exterior lighting, and faade treatments for existing buildings. David Katz, senior vice president of RK Assoc., said, The opening of RK Swansea Place is a significant milestone in the revitalization of the trade area. Our project team worked diligently to meet a very tight schedule and delivered a first class shopping center for the community. Notwithstanding the challenges in the current economic environment, the project has been well received by the marketplace, said Kenneth Fries of RK Assoc. The success of our redevelopment will not only attract additional national retailers to the market, but will also create value for other area businesses, property owners, and the town of Swansea.

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Keefe of hK group sells community shopping center for $15.4 million

WInsTed, cT Matthew Keefe of HK Group has sold a Stop & Shop/Rite Aid community shopping center for

Matthew Keefe $15.4 million to a group of investors based in Greenwich. The Stop & Shop performs very well and is an anchor for the Rte. 44 and Winsted community. The center has 10,000 s/f of vacancy which the new owners are already negotiating to lease. HK Group specializes in investment brokerage transactions in the tri-state area and New England.

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