Atlantic Capital Partners has completed the $8 million sale of Milford Square, a multi-tenant neighborhood shopping center in Milford, MA. The property is located at 138 S. Main St. and is positioned along Interstate 495, providing regional connectivity and visibility. Head of capital markets Justin Smith, EVP Chris Peterson, senior associate Danielle Turpin and associate Matt Ericson of Atlantic Capital Partners represented the seller in the transaction.
The shopping center totals 50,236 square feet and functions as a retail hub at the convergence of three major metropolitan trade areas. Milford Square draws customers from the Boston, Worcester and Providence metros, giving the property a broad regional reach. Its position within this overlapping trade area supports a steady customer base that extends beyond the immediate local community.
Milford Square features a mix of service-oriented and necessity-based tenants. This tenant profile is designed to support consistent customer visits and daily needs, rather than discretionary or seasonal spending alone. Among the tenants is one of Massachusetts’ newest Registry of Motor Vehicles (RMV) centers, which serves as a key anchor for the property.
The RMV location is the only Registry of Motor Vehicles facility within a 20-mile radius of the center and serves as the primary service point for the Worcester region. This role as a core government-service destination generates reliable, high-volume daily foot traffic to the property. The presence of this anchor tenant underpins demand for complementary service and necessity retail in the center.
According to Justin Smith, Milford Square benefits from its placement at one of the most prominent signalized intersections in the trade area. That visibility has helped the center consistently attract service-oriented retailers over time. Smith noted that this leasing profile and location provide future ownership with durable long-term cash flow.
The sale of Milford Square highlights investor interest in well-located neighborhood shopping centers that combine essential services with access to multiple population centers. With its regional trade area spanning the Boston, Worcester and Providence markets and a government-service anchor tenant that drives daily traffic, the property offers characteristics aligned with income stability and tenant demand. While buyer and seller details were not disclosed, the completed transaction underscores the ongoing role of service and necessity retail in supporting neighborhood center performance.
