Medipower acquires Powder Mill Plaza in Acton, MA

Atlantic Management has sold the Powder Mill Plaza retail center for $16.3 million to Medipower. The 74,876 square foot shopping center, located in Acton, Massachusetts, changed hands for under $218 per sqf. Anchored by Stop & Shop other notable tenants include Rite Aid, Anytime Fitness, DCU, Papa Gino’s and Dunkin’ Donuts. Situated in a historic and affluent trading area of Metropolitan Boston, the center's location boasts a three-mile population count of 33,600 people with an average household income of $168,000. Newmark Knight Frank represented the seller during the transaction. “As evidenced by its strong tenant sales and average tenure of 18 years, Powder Mill Plaza features an ideal location to serve the surrounding population,” said Managing Director Justin Smith, NKF. “Additionally, the center benefits from limited grocery competition, which enables its anchor tenant to draw from an expansive trade area