January 28, 2020
JLL Capital Markets closed the sale of Amherst Shopping Center, an 81,702-square-foot shopping center anchored by Big Y Supermarket and CVS in Amherst, MA. The purchase price wasn’t disclosed.
The team of Nat Heald and Chris Angelone represented the seller. Crosspoint Associates, Inc., headquartered in Waltham, MA, purchased the Central Massachusetts retail property, which was completed in 1997and has been renovated over the years, most recently in 2018.
Situated on 11.46 acres at 181 University Dr., Amherst Shopping center is the closest grocery and drug store location to both UMASS and Amherst College, which have a combined enrollment of nearly 33,000 students.
The center is along University Road at the heavily-travelled intersection with Route 9, which averages about 19,000 vehicles per day. More than 39,000 residents earning an average annual household income of $80,218, live within a three-mile radius of the center.
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