Investment Overview

Marcus & Millichap is pleased to present The Plaza at Bellingham Commons located at 15 N Main Street, Bellingham MA. The subject property consists of a three-building neighborhood shopping center that sits on a 7.36-acre lot and has approximately 460 parking spaces. The Plaza at Bellingham Commons is approximately 55,300 SF and is 98.60% occupied with 27 tenants in place. The property consists of a diverse mix of service-oriented tenants, along with Family Dollar, a nationally recognized brand. About 74% of the leases are NNN, with the tenants reimbursing for their pro rata share of expenses, providing the landlord with substantial reimbursements while also offering the opportunity for upside through converting more of the leases to NNN over time. The property also has solar panels with a lease that extends through 2026 with 2 (5) year options. At the expiration of their term, the landlord can decide whether to have the tenant remove the solar panels or have them left on the building in operational condition. The Plaza at Bellingham Commons is located on Route-126, which brings nearly 20,000 vehicles per day by the property, and which is home to many other strong retail tenants. Other tenants in the immediate vicinity include Walgreens, Dairy Queen, Dunkin’. However, part of the properties charm, is its mix of local tenancy, which include Liz’s tavern, Chamberlain Pines Indoor Golf, and more. The subject property has strong demographics, with more than 81,000 residents within 5 miles of the property, with an average household income of more than $133,000, well above the national average.