770 Boston Rd
Springfield, MA 01119
Boston Commons · Retail Property For Sale

Newmark Knight Frank has been exclusively retained to sell Boston Commons, a 103,494 square foot community shopping center located along a key retail corridor in Springfield, Massachusetts. Presently 95% leased, the Kohl’s-anchored asset features a synergistic mix of national, regional and local retailers with a weighted average remaining lease term of 9.9 years. In addition to this durable in-place income, the 11.9-acre property presents investors with the ability to increase cash flows via 4,671 square feet of presently available space and the potential to develop a 5,000 square foot outparcel. Boston Commons benefits from high visibility along Boston Road (Route 20), a heavily trafficked thoroughfare, within one of the area’s most densely populated neighborhoods. As evidenced by its current tenant roster, the well-positioned retail center has consistently retained some of the most dominant retailers in the market. The asset’s rent roll presently includes four investment-grade credit tenants – anchor Kohl’s (S&P/Moody’s: BBB-/Baa2), junior anchor CVS Pharmacy (S&P/Moody’s: BBB/Baa2), Dollar General (S&P/Moody’s: BBB/Baa2) and T-Mobile (S&P: BB+) – complemented by local grocer 5 Star Supermarket and regional dentist Dr. Dental (Springfield Family Dental).