MIDDLETOWN – RK Centers of Needham, Mass., recently purchased the former Brown’s Lane shopping center in Middletown for $10.58 million.
Located on Route 114, the shopping center includes a Stop & Shop supermarket anchor, GNC and Sprint.
The sale, brokered by Nat Heald and Chris Angelone of JLL Capital Markets, closed on May 2.
The shopping center is located across the street from RK Middletown Square, purchased by RK Centers in April 2015. Tenants in that center include Michael’s, Petco and Ulta Beauty.
“[Middletown] is a market we know extremely well,” said Ken Fries, director of acquisitions for RK Centers. “With this purchase, we now own four centers within this dynamic trade area totaling 541,575 square feet. We believe that our operating efficiencies will serve us well going forward.”
Mary MacDonald is a PBN staff writer.
