Twin City Plaza sells outside Boston

Asset received recent facelift

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CB Richard Ellis/New England on Monday announced it has brokered the $63 million sale of Twin City Plaza, a 285,747-square-foot shopping center in Cambridge/Somerville, Mass.   Charter Realty & Development sold the Shaw's Supermarket-anchored property to Regency Centers. Twin City Plaza is located two miles north of Boston between Gore Street and McGrath Highway (Route 28), which bisects the Cambridge/Somerville city boundary. During the past year, the property has undergone an extensive redevelopment, including a new facade, parking lot, and more than 45,000 square feet of new retail space. In addition to the new Shaw's Supermarket, the center features more than 20 retail tenants, including Marshall's, Brooks Pharmacy, and K&G. CB Richard Ellis/New England is a Boston-based joint venture of CB Richard Ellis and Whittier Partners Group with offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. ...