Newmark Capital Markets has successfully completed the sale of Cohasset Village Plaza in Cohasset, Massachusetts to Crosspoint Associates. Executive Managing Director Geoffrey Millerd, Managing Director Justin Smith and Financial Analyst Christian Brannelly of the Newmark Capital Markets Boston office, which is led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction of the institutional-quality asset on behalf of Black Creek Capital.
Totaling 49,561 square feet, Cohasset Village Plaza is highlighted by co-tenants CVS, Curtis Liquors and Starbucks. The property serves as a crucial market coverage location for CVS as its next-closest stores are each more than 10 minutes away.
“Situated within Boston’s exclusive South Shore, Cohasset is an extremely difficult market within which to pursue new commercial developments,” said Smith. “This high barrier-to-entry location, combined with Cohasset Village Plaza’s strong tenant roster, generated a competitive process for the asset with a number of interested bidders.”
Cohasset Village Plaza is strategically situated along Route 3A, a key retail corridor and the primary north-south thoroughfare serving the communities along the coast south of Boston. This prime retail destination features three- and five-mile population counts of 17,900 and 46,900 people, respectively, with corresponding average household incomes of $173,600 and $156,900.
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing, corporate advisory services, consulting, project and development management, property and corporate facilities management services, valuation and advisory services, and capital markets services provided through its Newmark Capital Markets brand. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.