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RK Centers Acquires Cape Roads Crossing

Developer Raanan Katz / RK Centers purchases new properties. The 160,000 SF RK Cape Roads Crossing in Raynham, MA and the 241,000 SF, RK North River Plaza in Pembroke, MA. Details @ www.rkcenters.com.

Exit 13 off RT 24, Route 44 (600 South Street), Raynham, MA 02767

RK Centers has purchased RK Cape Roads Crossing (formerly Cape Roads Crossing) located at 600 South Street (RT 44) in Raynham, MA. Anchored by Bob’s Stores (40,000 SF) Bed, Bath & Beyond (25,000 SF), the property has a strong mix of national and regional tenants including, Aldi Supermarket, Staples, and Dollar Tree, among many others. With 160,000 SF gross leasing area, RK Cape Roads Crossing is strategically located at the first signalized entrance heading westbound on Route 44 (abutting Route 24; Exit 13).  

After acquiring the property, RK Centers invested significantly in capital and tenant improvements including:

Façade renovation

Interior renovations to vacant spaces

Exterior painting

New landscaping

Exterior lighting

Signage

Geoff Millerd of Cushman & Wakefield brokered the transaction, representing the seller and procuring RK Centers as the buyer.  According to Millerd, "Our client was keenly focused on securing a buyer for its property that could close quickly. RK’s exemplary track record of closing transactions gave my client a high level of confidence when faced with the choice between multiple bidders."

 “RK Cape Roads Crossing is a wonderful addition to RK Center’s portfolio” said Raanan Katz, founder and President of RK Centers. “The property has superior visibility, access, and tenant mix. The improvements we have made, and will continue to make, will only enhance the shopping center and improve the operating performance of our retailers.”

RK Centers is a privately held, family-owned real estate development company which currently owns over 6,000,000 square feet of commercial space, with expertise in the acquisition, development, and management of "open air" regional and community shopping centers in New England and South Florida. Additional information about RK Centers is available on the Internet at www.rkcenters.com.

Property permalink: http://www.rkcenters.com/rk-cape-roads-crossing.php

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