New England shopping center commands big sales price

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Spaulding & Slye Colliers negotiated the sale of the 434,000-square-foot Lincoln Plaza Shopping Center in Worcester, Mass. The value of the transaction was $52 million. Worcester Lincoln LLC sold the property to Inland Real Estate Acquisitions. Inland also obtained an option to purchase an additional 100,000 square feet at a future time for an undisclosed price. Lincoln Plaza was largely constructed between 2001 and 2004, and is located on a 45-acre site with 2,459 parking spaces. At the time of sale, property tenants included Stop & Shop, Target, Lowe's, Barnes and Noble, Staples, AC Moore and Dick's. There are approximately 11 additional tenants in the 100,000-square-foot option. Spaulding & Slye Colliers is a commercial real estate services company. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....