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**New Owner Acquires Fieldstone Marketplace Shopping Center in New Bedford for $12.2M**
A private real estate investor has purchased Fieldstone Marketplace, a 192,003-square-foot shopping center located at 500 Kings Highway in New Bedford, Massachusetts. The asset traded hands for $12.2 million.
The transaction was brokered by the CBRE National Retail Partners team, comprising Nat Heald, Connor Scott, and Jordana Roet. The team led the marketing effort for the retail property and represented the seller. They also procured the buyer in the deal.
“We were excited to work on Fieldstone Marketplace and pleased with the level of aggressive competition,” said Nat Heald of CBRE. “Investors clearly indicated their demand for properties that combine in-place yield, below replacement cost pricing, and the potential to add value through leasing existing vacancy. We anticipate continued strong demand and pricing for properties that offer these attributes.”
Fieldstone Marketplace has recently undergone repositioning and is anchored by prominent retailers Restaurant Depot and Ollie’s Bargain Outlet. The property is located within a Transit Oriented Development (TOD) zoning district, which allows for significantly higher density and mixed-use redevelopment opportunities, offering the new owner additional long-term value-add potential.
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