Denenberg Realty Advisors Negotiates $14M Acquisition of Chelsea Retail Center

Neil Denenberg, President of Denenberg Realty Advisors, negotiated the sale of this Retail Strip Center located at 121 Webster Avenue in Chelsea, MA for $14,017,000. The multi-tenanted, 72,172 square foot retail commercial property with 25-foot ceiling heights, sits on a 3.52-acre lot and is adjacent to the Chelsea Commons Strip Center with anchors such as Home Depot, CVS and many other diverse tenants. The retail corridor of Chelsea Commons and 121 Webster Avenue creates a huge draw for goods and services from the surrounding areas. This Center is strategically located just off Revere Beach Parkway (Route 16) and Route 1 with excellent access to Boston and traffic counts of over 48,000 cars per day.

Neil Denenberg, represented the seller, CARU Chelsea, LLC, and procured the buyer Kendal Capital, LLC with both parties working together, despite this pandemic, this sale was achieved. Neil Denenberg, President of Denenberg Realty Advisors, stated: “It was a pleasure working closely with these two extremely committed parties, CARU Chelsea, LLC, and Kendal Capital, LLC, on the acquisition of this commercial property for $14,017,000 and we look forward to working with them again in the future. This was a rare opportunity to purchase a legacy asset Retail Strip Center with substantial upside in the Metro Boston area in this dynamic real estate marketplace.”

Denenberg Realty Advisors is an active boutique firm specializing in the sale of on and off-market properties including Strip Centers, Apartment Complexes, Multi-Family, Office, Retail and Industrial Properties as well as Land deals in the Northeast and welcome buyers and sellers to contact them. 

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