84-86 Taunton Street
Stabilized NNN strip center with ConvenientMD, Jersey Mike's and Starbucks.
Marketing description
CBRE National Retail Partners is pleased to offer for sale 84-86 Taunton Street, presenting the opportunity to acquire a fully occupied, newly constructed retail center at one of Greater Boston's most trafficked suburban corridors. Positioned at the signalized intersection of U.S. Route 1 and Route 152, two minutes from Interstate 495 Exit 36 in Plainville, Massachusetts, the Property commands exceptional regional visibility and accessibility across the Route 1 South corridor.
Developed circa 2019, the center features a freestanding ConvenientMD ranking in the 82nd percentile nationally for store visits, alongside a drive-thru Starbucks occupying the building's premier end-cap position and a Jersey Mike's end-cap unit, both national food and beverage brands, complemented by a service-oriented mix spanning fitness, personal services, and education. Across food and beverage, medical and wellness, and service and education, the roster is structurally insulated from e-commerce disruption and drives consistent, multi-visit daily traffic reflective of the surrounding affluent consumer base.
84-86 Taunton Street sits at the heart of a well-established trade area benefiting from proximity to both the Greater Boston and Providence metros, one of the most compelling demand backdrops available in the Southeastern Massachusetts market. At 100% occupancy within one of the region's most established retail nodes, the Property offers investors a rare combination of stable income, demonstrated tenant performance, and embedded upside in a supply-constrained market. The Property additionally benefits from an OUTFRONT Media billboard, providing supplemental NOI and prominent Route 1 visibility.
Investment highlights
LOCATION
- Irreplaceable Interchange Location — Signalized intersection of Route 1 and Route 152, two minutes from I-495 Exit 36, at the center of one of Southeastern Massachusetts' most trafficked suburban corridors.
- High-Velocity Retail Corridor — Positioned at a signalized intersection generating 37,000+ combined VPD across Route 1 and Route 152, with pylon signage visible to all approaching traffic.
- Exceptional Demographic Profile — Immediate trade area supports ~$168,000 average household income, among the highest in Southeastern Massachusetts, with 72% white-collar employment.
- Supply-Constrained Market — Greater Boston retail vacancy stands at ~2.6% — less than half the national average of 5.7% — with structural barriers to new development limiting competitive supply along the Route 1 corridor.
ASSET
- 100% Occupancy, Stabilized Day One — Fully leased in-place rent roll with zero lease-up risk or repositioning required at acquisition.
- Embedded Rent Growth — In-place rents averaging $42 PSF sit approximately 5% below market, providing organic mark-to-market upside across five of six tenants at rollover.
- Attractive Lease Term and Structure — NNN leases with a ±6.16-year weighted average lease term deliver a passive income profile with near-term stability and medium-term rollover optionality.
- Purpose-Built, Modern Construction — Developed in 2019 as a ground-up retail center with modern construction quality, minimal near-term capital requirements, and no deferred maintenance risk.
TENANTS
- Demonstrated Consumer Demand — Center-level visits up 22% YoY, with Jersey Mike's leading at 41% growth and both Starbucks and ConvenientMD each posting 25% year-over-year gains.
- Dual National Credit End-Caps — Starbucks (drive-thru) and Jersey Mike's provide institutional-quality covenant strength as the center's two lead daily traffic drivers.
- Freestanding Medical Anchor — ConvenientMD ranks in the 82nd percentile nationally for store visit frequency, operating as a rare freestanding urgent care format with a distinct physical presence.
- Internet-Resistant, Diversified Roster — Six tenants across food & beverage, medical & wellness, and service & education with zero use overlap and no single-tenant concentration risk.
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