Health & Fitness
RK Centers adds 445,000 SF to its New England portfolio
RK Centers' 4th quarter of 2012 featured the acquisition of four Boston-Area shopping centers totaling over 445,000 SF. The value of these assets totaled just under $57 million.
Dedham, MA – January 28, 2013 -- RK Centers (www.rkcenters.com) continues to aggressively pursue core shopping center assets in the New England Market. “Our appetite for future acquisitions remains strong for regional properties in supply constrained markets” says Kenneth Fries of RK Centers. “We feel that each of the properties we purchased offered tremendous upside based on existing tenant demand in the market.”
RK Centers has already started renovating the three Pembroke, MA shopping centers including new façades, improved landscaping, and improved signage. Similar improvements in North Reading, MA are underway as well.
“We hit the ground running. Our team was able to line up our contractors during the due diligence phase and we were able to start our improvements without delay” says David Katz, Principal of RK Centers.
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The Pembroke properties have a great tenant mix that includes Kohl’s, Super Stop & Shop, Staples, 99 Restaurant, Sleepy’s, Supercuts, and many other quality tenants while North Reading’s tenants include Wal-Mart, Marshalls, Citizens Bank, Dollar Tree, and local attraction Joe Fish Restaurant.
With occupancy close to 96% in Pembroke, RK Centers’ leasing team was able to focus on filling the remaining vacancies with national retailers. “Due to our existing South Shore presence, we were aware of many moving parts that would fit well with Pembroke’s existing uses,” said Kenneth Fries. “Our leasing efforts are well underway and we have finalized deals with a number of new retailers.”
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RK North Reading Plaza’s occupancy is currently at 98%. The strength of the anchor tenants will assist in attracting additional national tenant’s for the remaining 3,680 square feet of space.
The available space at these newly acquired shopping centers can be viewed below. If you are interested in speaking with a leasing representative, please contact Kenneth Fries or Andrew Fisch @ 781-320-0001. Leasing Brochures can also be found at www.rkcenters.com.
RK North River Plaza
30 - 7,920 SF
70B - 2,100 SF
100 - 2,650 SF
RK Pembroke Square
2 - 3,350 SF
8 - 4,000 SF
11 - 1,650 SF
RK North Reading Plaza
3 - 3,680 SF
