RK Centers pays $19.525m for a retail center near Boston

RK Centers has paid $19.525m for a retail center in Stoughton, Massachusetts, a Boston suburb. Anchored by a Stop & Shop supermarket, the 79,300 sq ft shopping center changed hands for just over $246 per sq ft. Additional tenants include Bank of America, Care Central Urgent Care and Andrade’s Liquors. Jones Lang LaSalle represented the seller, KPR, in the transaction.

“In the last four years, RK Centers has acquired more than 2.5 million sq ft of commercial space. Our investment formula focuses on open-air, well-situated, heavy traffic locations with good demographics — and respected credit tenants,” said Ken Fries, director of acquisitions for RK Centers.