Updated facade, no significant redevelopment planned for recently acquired Monument Square retail building
Banker & Tradesman reports that developer Hajjar Management has no plans for significant redevelopment of 775-783 Centre Street in Jamaica Plain. Hajjar Management acquired the 3,680 square foot retail building fronting Monument Square for $1.72 million on August 12th, 2016. “It will remain as a retail use, with an updated facade in keeping with the vibrant Jamaica Plain market. It’s a great spot, and highly visible,” said Hajjar Management COO Paul Mahoney in an email.
Hajjar Management acquires four Monument Square storefronts for $1.72 million
Last Friday (August 12th, 2016), real estate developer and manager Hajjar Management of Milton, MA acquired four consecutive single-story storefronts at 775-783 Centre Street in Jamaica Plain overlooking Monument Square for $1.72 million, amounting to approximately $467 per square foot, as recorded in the Suffolk County Registry of Deeds. The storefronts total 3,680 square feet of retail space and are built on a 3,960 square foot parcel. The property last sold for $47,500 in September 1976. Current retail tenants include Tedeschi Food Shops, Kamado Super Fusion, American Dry Cleaners and JP House of Pizza.
Hajjar Management develops and manages hotel, industrial, residential, retail and office properties across New England. The firm owns a number of Boston-area apartment buildings and opened the Charlesmark Hotel, a 33-room luxury hotel in the Back Bay, in 2001. Hajjar is currently building eight loft apartments above an existing retail strip in Edgartown on Martha's Vineyard and also recently opened The Sydney, an eight-room Martha's Vineyard hotel. The following is the deed for the sale of 775-783 Centre Street in Jamaica Plain to Hajjar Management:
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