Needham, MA – Continuing a period of growth, Ken Fries, RK Centers’ director of acquisitions, has announced the acquisition of a landmark retail property located at 225-235 Boston Post Road (Rte. 20) in Marlborough.
RK Centers paid $8,650,000 for the 57,970sf plaza. Located on Route 20 (just West of I-495), the purchase marks a strategic acquisition as it will facilitate the expansion of the adjacent RK Center, which opened in 1995 after a comprehensive redevelopment, and is anchored by Hannaford Supermarket.
The new acquisition has been renamed RK Center II and is currently home to Chipotle Mexican Grill, Great Clips, Mattress Firm, Subway, and Sullivan Tire. Up to 17,326sf of subdividable in-line space is available for lease and there are plans for a proposed 7,500sf out-parcel.
The Route 20 daily traffic count is approximately 37,000 vehicles and nearby I-495 carries 92,000 vehicles per day. The trade area’s daytime population swells as a result of eight million square feet of office space with minimal retail competition. Within a three-mile radius are 35,000 residents with an average household income of nearly $123,000. Regional traffic is further enhanced by the Apex Entertainment Center, the New England Sports Center (the largest ice sports venue in North America), the Royal Plaza Trade Center, and numerous hotels.