Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Attributes

Loan Status REO
Unpaid Principal Balance
Property Type Retail

Asset Description

Jones Lang LaSalle (“JLL”), in conjunction with Ten-X, has been retained on an exclusive basis by the Owner to arrange the sale of Springfield Plaza (the “Property”), a +/- 430,727 SF Stop & Shop-anchored shopping center in Springfield, MA. Located along the heavily traveled Liberty Street, Springfield Plaza sees over 3.1 million annual visits via Placer.ai data, ranking it in the 91st percentile of shopping centers in all of Massachusetts and the country overall. The Property is leased to a variety of national tenants including Stop & Shop, McDonald’s, Dollar Tree, Burger King, and Planet Fitness. Comprised of 15 buildings, the Property is on +/- 67.5 acres and located in a densely populated trade area with nearly 120,000 people living within a three-mile radius and 260,000 within five miles. The Property benefits from significant frontage along two heavily trafficked corridors – Liberty Street and St. James Avenue, seeing a combined total of approximately 23,000 vehicles per day. Additionally, the site is equidistant to four major highways - being just under 3 miles to I-90 to the north, I-291 to the east, and I- 391 to the west, which encircle the cities of Springfield and Chicopee, facilitating regional access. Springfield Plaza offers investors a unique opportunity to realize significant upside potential through accretive pad-spins as well as leasing approximately 120,000 SF of vacancy and increasing existing rents to market.

Property tours are available by appointment only. Please contact the broker to schedule.


BID DATES: June 20 - June 22, 2022

Click here to register to bid and access to the dataroom on Ten-X auction platform.

Investment Highlights

  • STRONG LINEUP OF NATIONAL TENANTS | Springfield Plaza is 72% leased to a lineup of national and credit tenants including Stop & Shop, McDonald’s, Burger King, and Planet Fitness.
  • HIGHLY TRAFFICKED, DENSELY POPULATED TRADE AREA | Springfield Plaza is on +/- 67.5 acres, located in a densely populated trade area with nearly 120,000 people living within a three-mile radius and 260,000 within five miles. The Property sees over 3.1M visits per year and ranks in the 91st percentile of shopping centers in Massachusetts as well as the country based on annual visits (placer.ai).
  • VALUE ADD POTENTIAL | Springfield Plaza provides future opportunity for highly accretive pad-spins with a WALT of just under 9 Years. Pad tenants include freestanding McDonald’s, Burger King, Wendy’s, O’Reilly Auto and 99 Restaurant. In addition, Springfield Plaza offers approximately 120,000 square feet of inline and outparcel retail vacancy.
  • WELL-KNOWN, TENURED CENTER | With over 17 years of weighted average tenure, Springfield Plaza is an established shopping center embedded in the community. Stop & Shop has been operating at this location for nearly 25 years and is the second-most visited grocery store out of 21 in a 5-mile radius, seeing over 870K annual visits (placer.ai).
Last Updated Date: 13 May 2022

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Last Updated Date: 13 May 2022

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