CBRE Completes $11.2 Million Sale of Retail Shopping Center at 299 Mishawum Road in Woburn, MA

CBRE today announced the sale of Woburn Plaza, a 31,994 sq.-ft. shopping center located at 299 Mishawum Rd. in Woburn, MA. Situated just 10 miles from downtown Boston, Woburn Plaza was acquired by Chestnut Realty Management for $11.2 million from Linear Retail Properties.

The CBRE National Retail Partners team of Nat Heald, Kyle Juszczyszyn, Connor Scott, and Jordana Roet spearheaded the marketing campaign for the shopping center and represented the seller in the negotiations.

“Small shop retail centers have matured into the ‘it’ product type within the retail landscape,” said Heald. “Woburn Plaza received tremendous attention from the market based on its manageable size and prime location. We are proud to have played a part in this exciting transaction.”

Ideally located adjacent to Interstate-95, Woburn Plaza is occupied by West Marine, Eastern Bank and Mattress Firm. The shopping center boasts highly visible signage along Interstate-95 (Boston’s inner beltway) which sees 175,000 vehicles per day and Mishawum Road, a heavily traveled local and regional connector road seeing upwards of 38,000 vehicles per day.

Woburn Plaza also benefits from its proximity to the institutionally owned Woburn Village, which includes a 350-unit rental community adjacent to a retail center anchored by an exceptionally high-volume Market Basket Supermarket.

Additional retailers at the center include T.J. Maxx, HomeGoods, HomeSense, Sephora, Shake Shack, Dave's Hot Chicken, Sally's Apizza, Crumbl Cookies, Caffe Nero and Cava.