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Atlantic Capital Partners has arranged the sale of a grocery-anchored neighborhood shopping center at 211 Lowell St. in Wilmington, MA, along with adjoining land and a single-family residence. The buyer and purchase price were not disclosed. The assignment included 211 Lowell St., an existing retail property, 243 Lowell St., a neighboring single-family home, and 13.59 acres of developable land. The land component consists of 13 residentially zoned parcels.
The Atlantic Capital Partners team leading the transaction included Justin Smith, head of capital markets, Chris Peterson, executive vice president, Danielle Turpin, senior associate, and John Dixon, analyst. The firm exclusively represented the undisclosed seller in the sale of the property and associated parcels.
The neighborhood shopping center at 211 Lowell St. totals 53,679 square feet and is reported to be 91% leased. The center is anchored by McKinnon’s Market, which serves as the primary grocery tenant. Additional retailers at the property include Eastgate Liquors and Dunkin’ Donuts, along with a mix of local retail operators that round out the tenant roster.
According to Peterson, the assignment involved working with a family ownership group that has held the property at this Wilmington intersection for approximately 50 years. He noted that the team viewed the sale as an opportunity to support the family’s transition of the center to new ownership while acknowledging the long-term legacy associated with the site.
The transaction brings together an established, grocery-anchored neighborhood center with additional residentially zoned land, but specific details regarding the buyer’s strategy, pricing, and future plans for the land were not released. No information was provided on expected development timelines, capital investments, or changes to the existing tenant mix.
The sale underscores ongoing investor interest in grocery-anchored retail properties, particularly those that combine stable in-place tenancy with additional land that is already entitled for residential use. However, the parties involved did not disclose further financial metrics, such as cap rate, yield, or valuation, nor did they identify the buyer or describe its ownership profile.
The post Atlantic Capital Partners Sells McKinnon’s-Anchored Wilmington Shopping Center After 50 Years appeared first on CRE Market Beat.
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