Wellesley, MA — August 27, 2021 — SVN | Parsons Commercial Group | Boston has completed the sale of a 8,900 square foot downtown retail center at 79-93 Central Street to AlpCentral, LLC for $6 million.
Senior Advisor Marilyn Santiago of SVN | Parsons Commercial Group | Boston represented the seller, STMC, LLC. Senior Advisor Arlon Brown, SIOR of SVN | Parsons Commercial Group | Boston represented the buyer, AlpCentral, LLC.
The property is a multi-tenant downtown retail center located in the heart of Wellesley Center, known as the Wellesley Square District, one of the most prestigious suburban retail markets. The center was 83% occupied at the time of purchase with a diverse tenant roster including fitness, health and beauty shops.
“79-93 Central Street provided a unique and rare opportunity for an investor to acquire a stable asset in one of Boston’s most desirable and prestigious suburban markets,” commented Santiago.
The Wellesley Square district attracts high end retailers being home to over one hundred shops, eateries and local businesses. The area is supported by strong organizations including: “Shop Wellesley Square,” an organization along with “The Wellesley Square Merchants’ Association that help promote and advertise the uniqueness of the market area.
The area is extremely vibrant and noted as a transit-oriented location with three stations along the Framingham/Worcester Line of the MBTA commuter rail with daily access to Boston and is adjacent to Wellesley College.
“This strategic investment fits into the buyer’s overall portfolio strategy. Furthermore, we also want to thank all parties involved in the negotiations that made it a smooth transaction,” commented Brown.
About SVN | Parsons Commercial Group | Boston
SVN | Parsons Commercial Group | Boston is an independently owned and operated SVN® office located in Framingham, MA. The SVN® brand is a globally recognized commercial real estate entity united by a shared vision of creating value for clients, colleagues and communities. Currently, SVN comprises over 1,600 advisors and staff working in more than 200 offices across the globe. SVN’s brand pillars represent the transparency, innovation and inclusivity that enable all our advisors to collaborate effectively with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN Advisors create outsize value for all stakeholders. For more information, visit www.svn.com.
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