MEDIPOWER ACQUIRES POWDER MILL PLAZA, A PREMIER SHOPPING CENTER IN ONE OF METRO BOSTON’S MOST AFFLUE
Medipower, a full-service commercial real estate company, specializing in retail real estate across the North East and Canada's major markets, announced today the acquisition of a sqf 74,876 grocery anchored shopping center located in Acton Massachusetts for USD 16.3M. Powder Mill Plaza is anchored by the dominant New England grocer Stop & Shop. In addition to the center’s grocery anchor, Powder Mill Plaza which is 97% occupied, features an ideal mix of national retailers including Rite aid, Anytime fitness and Dunkin’ Donuts.
The center is ideally positioned within an affluent trade area, benefiting from strong demographic in one of metro Boston’s affluent trade area with average household income of USD 168,000 within three miles.
Ron Stern, CEO: “Powder Mill Plaza features an ideal mix of national retailers that perform extremely well with strong history of longstanding tenancy. This asset exemplifies a key component of our strategy to enhance our portfolio with selective acquisitions of quality well located assets.”