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Harbor Village Mall sold to Lawrence investment group

PUBLISHED: | UPDATED:

By Dan O’Brien

MediaNews

TOWNSEND — The Harbor Village Shopping Center has a new owner.

The Main Street (Route 119) shopping complex, which is anchored by Hannaford Supermarkets and includes Rite-Aid, Santander, McDonald’s and local favorite Bailey’s Bar & Grille, was acquired last month by The Federated Companies for $6.25 million.

The property, which lies across the street from North Middlesex Regional High School, comprises 107,787 square feet. As such, it serves as a central artery of sorts for Townsend, a community of about 9,000 people nestled between Fitchburg and Lowell and off Route 119.

Justin Smith, a senior associate at Boston-based Cushman & Wakefield, which oversaw the transaction, said the new owners plan some minor modifications, including in the parking lot, to help create even more demand for what is already a desirable retail property.

“There’s definitely limited competition for that Hannaford, and it does quite well due to that position and proximity,” Smith said.

Federated Properties is a national real-estate investment group with offices in Lawrence, Mass., and Miami. In addition to retail properties, it acquires, develops and manages multifamily apartment communities.

Calls seeking comment from the company were referred to Chief Operating Officer Nick Wexler, who couldn’t be reached.

The seller was Illinois-based Bixby Bridge Capital, which bought the property in a 1993 bankruptcy sale for $5 million, according to the Worcester Business Journal, citing town records.

Smith said Harbor Village is about 75 percent leased.

“The new ownership has a plan to implement a leasing strategy that will make it more desirable,” Smith said.

Follow Dan O’Brien on Twitter @dobrien_thesun.

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