Mansfield shopping center sold

MANSFIELD – The Mansfield Marketplace on School Street has sold for $10.4 million, broker Marcus & Millichap Real Estate Investment Services said this month.
Davos Family Trust purchased the 23,840-square-foot retail plaza from Hecht Development.
“Investor demand for quality core retail product located inside the Interstate 495 corridor in Boston continues to be a highly desirable and sought-after asset among most of the buyer pools,” said Robert Horvath, who represented the seller.
Mansfield Marketplace’s tenants include Chipotle, AT&T Wireless, Sleepy’s, Radio Shack, Friendly’s, Knockouts Haircuts, Pearle Vision and Asian Grill & Sushi. The plaza was built on 3.5 acres in 2009.
“Investors were interested in this asset because of the strong retail location, diversified tenant roster and scheduled rental increases in both the base and option periods,” said Todd Tremblay, who represented the buyer.
Mansfield Marketplace sits across the street from the 383,000-square-foot, open-air retail center Mansfield Crossing.