Colliers International is pleased to present the Walpole Mall located at 50, 60 & 90 Boston Providence Highway in Walpole, Massachusetts (US Route 1). The dominant power center consists of approximately 402,206 (per rent roll) square feet of building area and is situated on 35.59 acres of land (1,347,746 square feet).
Built in 1974 and renovated from 2011-2014, the power center is anchored by national credit tenants including Old Navy, Barnes & Noble, Kohl’s, L.A. Fitness, Office Max, Panera Bread and many more.
The Walpole Mall boasts sufficient surface parking to accommodate the diverse tenant mix, allows for easy access and excellent street visibility, and is professionally leased and managed. Currently the project is over 98% occupied with immediate upside for new ownership.
This value-add retail investment is an excellent opportunity for an investor to acquire a value-add investment in an exclusive submarket with immediate upside at a significant discount to replacement cost.
*98% Occupied with 80% being National Credit Tenants
*In a Supply Constraint Market, Dense Infill Location
*Average Household Income is $124,625 within a 5 Mile Radius
*Significant Long Term Historical Occupancy
*Typical Customer Duration Exceeding 90 Minutes at the Center
*Top 5 Kohl's Location in the New England Marketplace
*#1 Panera Bread Location in the Boston Market
*1,752 Parking Spaces (70 Handicap)
*Below Market Rent on Tenants that Expire with Zero Options
*Tenant Mix Ideally Designed to Attract Families
*Potential to Add a Fast Casual Ground Lease Pad Concept