Atlantic Capital Partners has completed the sale of a fully leased neighborhood strip center at 18-20 Main Street in North Reading, MA, an affluent community in Middlesex County. The property is described as a well-located retail asset serving a dense suburban trade area with convenient access to Interstates 93 and 95 as well as Route 495, positioning it to draw customers from a wide surrounding region.
Atlantic Capital Partners represented the seller in the transaction. The firm’s capital markets team on the assignment was led by Justin Smith, head of capital markets, along with Chris Peterson, executive vice president; Danielle Turpin, senior associate; and John Dixon, analyst. The team was responsible for marketing the asset and managing the sale process on behalf of the seller.
The retail center totals 46,738 square feet and is anchored by a 13,225-square-foot standalone CVS, providing a national credit tenant as the primary draw. Adjacent to the pharmacy is a 33,289-square-foot strip center that houses a mix of nine service-oriented retailers. Among the tenants in this portion of the property are East Gate Liquors and AutoZone, contributing to a merchandising mix focused on neighborhood convenience and daily needs.
The property’s leasing profile is fully stabilized, with all space currently occupied. According to Atlantic Capital Partners, the center benefits from its location within an affluent, high-barriers-to-entry market in Middlesex County, which supports sustained retailer demand and helps underpin occupancy. The strength of the surrounding demographics and transportation connectivity enhances the property’s role as a retail hub for nearby residents.
Justin Smith noted that the shopping center attracted substantial competitive interest from a wide range of local and regional investors. He attributed this demand to the combination of long-term, stable tenancy and the center’s convenient location within a desirable market. Those characteristics made the asset a sought-after investment opportunity among buyers focused on established, income-producing neighborhood retail centers.
