Atlantic Capital Partners arranged the $10-million sale of Quarry Square, a 56,004-square-foot, stabilized neighborhood strip center in Milford, MA, anchored by local fitness and restaurant operators. The transaction was led by head of capital markets Justin Smith, EVP Chris Peterson, senior associate Danielle Turpin and associate Matt Ericson, representing the sellers, RJ Kelly.
Quarry Square is currently 100% leased to 17 retail tenants, providing new ownership with immediate stability. “The asset offers an exceptional combination of durable, long-term cash flow and embedded upside,” said Smith. “The center features a diverse, resilient tenant mix with a proven track record of lease renewals. With several leases nearing expiration, incoming ownership has a clear runway to boost net operating income by bringing below-market rents to fair market value upon rollover.”
The 8.6-acre property is situated along East Main Street, the submarket’s primary corridor connecting Milford to I-495 and the broader regional markets of Boston, Worcester and Lowell.
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