August 22, 2019
Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged the sale of Bristol Place, a 421,680-square-foot grocery-anchored power center in Attleboro. The sales price was $58 million.
Built in 1993 on more than 45 acres and renovated in 2013, the center is currently 88% leased to a tenant roster that includes Market Basket, Home Depot, TJ Maxx, Hobby Lobby, Bob’s Stores, Party City, Mad Jack’s Wine & Spirits, Gentle Dental, and Supercuts.
Thomas Dalzell of IPA and Russell Wachtler of Marcus & Millichap represented the seller, a private real estate investor, in the transaction. Joseph French of IPA procured the buyer, a joint venture between a Boston-based private real estate firm and an institutional investor.
“Bristol Place serves a trade area of more than 550,000 people,” said French. “The center has a very stable tenancy that dates back to the early-to-mid-1990s, and management regularly receives inquiries from prospective tenants about availability.”
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