December 30, 2021 – Todd Tremblay and Bob Horvath of Horvath & Tremblay have successfully completed the sale of the Central Plaza in Lowell, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $10,800,000.
The Central Plaza is located at 55-177 Church Street in Lowell, Massachusetts. The property consists of an inline strip center and one ground leased outparcel (AutoZone). In total, the neighborhood shopping center contains 91,918 square feet of gross leasable area on 6.78 acres. Central Plaza is anchored by Dollar General, AutoZone, and Foodland, the only grocery store in Downtown Lowell. The well-maintained Property is currently 91.64% leased to an attractive mix of retail, restaurant, and neighborhood service tenants, many of which have been long-term tenants at Central Plaza. Central Plaza is extremely well located at the southern gateway to Downtown Lowell’s Historic District at the hard-corner of Central and Church (Route 110) Streets, approximately ½ mile from The Lowell Connector (Route 3) and the Lowell Commuter Rail Station. Central Plaza offers excellent frontage along the heavily travelled Church Street (Route 110) with pylon signage and multiple access points from both Church Street and Central Street. The Property is well located in Downtown Lowell and provides a convenient location for area residents. Lowell is a vibrant city of 111,000 residents, making it the second largest city in the Boston MSA, and home to UMass Lowell, the second largest public university in the state and Middlesex Community College, which has an enrollment in excess of 13,000 students.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.