Clarion Partners has picked up the Brookside Shops retail center in the Metropolitan Boston suburb of Acton, Massachusetts for $33.5 million. Totaling 75,781 square feet and located at 145 Great Rd, the asset changed hands for $442 per sqf. The center is currently 100 percent leased and is anchored by a Trader Joe’s. NGKF Capital Markets represented the seller, TH Real Estate (a division of TIAA Global Asset Management). This retail location, set in one of the most affluent parts of the Boston area, boasts a three-mile population count of 28,400 people with an average household income of $172,900.
“Since opening in 2002, Brookside Shops has proven to be one of the most prolific shopping destinations in the submarket,” said NGKF’s Managing Director Justin Smith. “A clear testament to the asset’s strength is the permanence of its retailers, with 90 percent of the property’s total square footage being occupied by tenants that have been at the center since its original construction.”
