Prestige Properties & Development Co acquired Holyoke Crossing, a 140k SF power center, for $33.3M from Holyoke Crossing LP and Holyoke Crossing LP II. The property is near the super-regional Holyoke Mall, and is fully leased. Tenants include TJ Maxx, Bed Bath & Beyond, PETCO and Ulta Cosmetics.
Investors were quite interested in the property, according to HFF senior managing director Jim Koury. “It has the advantage of being the only shopping center adjacent to a healthy 1.6M SF super-regional mall," he said. HFF represented the sellers, and procured the buyer. The property was sold free and clear of debt.
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