Premium Capital Resources acquired this ±295,000 SF, regional shopping center anchored by BJ’s Wholesale Club, Kohl’s and TJ Maxx in Plymouth, Massachusetts. Located at Exit 5 off of the heavily traveled Route 3 (a primary commuter thoroughfare to Boston), this property offered investors an excellent opportunity to reposition a well-anchored property just 30 miles south of Boston. This investment appealed to Premium as it offered the opportunity to create immediate upside through leasing nearly 64,500 square feet of existing vacancy.
Premium managed to lease up 20,500 SF to Planet Fitness and an additional $10,076 SF to ItzAParty since acquisition and is in the middle of finalizing leases for another 3 spaces comprising 15,600 SF in total.
To date, Premium has been able to distribute an average of about $18.7% year-on year Cash-on-Cash returns to its investors.