Needham retail firm buys Framingham Stop & Shop plaza for $23M
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The Shop & Shop-anchored plaza at 235 Old Connecticut Path in Framingham
A shopping plaza on Old Connecticut Path in Framingham anchored by a Stop & Shop grocery store has sold for $23 million.
The buyer is a familiar name to shoppers across much of Massachusetts: Needham-based RK Centers. The company's portfolio already includes 14 shopping centers in Central Massachusetts, including one in Framingham, the adjacent Target-anchored plaza facing Route 30.
RK Centers bought the Stop & Shop plaza from Florida-based retail plaza owner Regency Centers in a deal closed Nov. 24. Regency Centers bought the site in 2011 for nearly exactly the same price.
The 9.4-acre site includes, in addition to Stop & Shop, an Align Credit Union, Fifth Ave. Liquors, Title Boxing Club and Sport Clips Haircuts. The property was last assessed by the City of Framingham at $13.5 million. The plaza was built in 1994.
The deal gives RK Centers a growing list of locations in Central Massachusetts.
In addition to the two Framingham sites, the company's portfolio includes RK Plaza in Bellingham; RK Hudson Towne Center and RK Washington Square in Hudson; RK Center, RK Executive Center, RK Shops at the Pond and Marlboro Commons in Marlborough; The Shoppes at Blackstone Valley in Millbury; Sutton Square in Sutton; RK Speedway Plaza in Westborough; and RK Worcester Crossing and RK Worcester Fair in Worcester.
RK Center, a Hannaford-anchored shopping plaza on Route 20 in Marlborough, expanded in June with the purchase of adjacent retail space for nearly $8.7 million.
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