BURLINGTON, MA (today)— KeyPoint Partners, LLC (KPP) has negotiated the sale of Route One Marketplace, a retail property in Peabody, Massachusetts. KPP Vice President of Leasing Don Mace handled negotiations between the buyer and seller to close the $6.1 million sale.
Route One Marketplace is a 68,530 square foot strip center located at 216 Newbury Street (Route One) in Peabody, MA, visible from Interstate 95. Tenants at the center include Work Out World, Namco, Mass Bay Hockey Center, and Revival Church for the Nations. The Marketplace was purchased by the owner and operator of FUNCITY and Aero Trampoline Parks, who plans to open a FUNCITY facility at the property in the Spring of 2018.
“FUNCITY is rapidly expanding throughout the Northeast. We’re looking to have 18 locations secured by the end of 2018,” Mace says. “Our client will consider acquisition or leasing vacant boxes of 30,000 square feet or larger. We have several other transactions pending, but still need to secure sites in Springfield, MA, Connecticut, Vermont, and New Hampshire. All submitted sites will be considered.”
For more information about FUNCITY expansion plans, visit KeyPointPartners.com , or contact Don Mace at 781.418.6243 or DMace@KeyPointPartners.com.
Headquartered in Burlington, MA, KPP is the region's premier commercial real estate service firm, providing property & asset management services for over 21 million square feet of retail, office, and industrial properties, leasing for retail properties totaling more than 7 million square feet, and tenant representation services for local, regional, and national retailers. The firm provides a wide range of services to retailers, property owners, and financial institutions including retail brokerage, investment sales, property & asset management, construction, custom market research, and financing/consulting services. For more information about KPP’s Retail Leasing & Tenant Representation services, or to view exclusive listings, click here.