Firm led by part owner of Miami Heat buys Stop & Shop plaza in Framingham
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A plaza anchored by Stop & Shop at 19 Temple St. in Framingham
RK Centers has purchased a Stop & Shop-anchored Framingham plaza for $17.4 million, three months after it was traded in March for $15.7 million.
RK Centers, which has offices in Needham and in Sunny Isles Beach near Miami, Florida, is owned by Raanan Katz, a former Israeli national team basketball player and part owner of the Miami Heat.
RK Centers purchased the grocery store-anchored shopping center at 1224 Worcester Road on Monday, according to the Worcester District Registry of Deeds. This is the company's third shopping plaza in Framingham.
The seller, an affiliate of Orion Real Estate Group in Miami, bought the property in March for $15.7 million as part of a $70-million portfolio purchase.
The sale was brokered by Justin Smith, head of capital markets at Atlantic Capital Partners, a subsidiary of Atlantic Retail, according to a LinkedIn post by RK Centers.
RK Centers owns 43 shopping centers in Massachusetts, 98 in five states, totalling 10 million square feet, according to the company’s website, not including the latest acquisition.
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