New England Retail Properties, Inc. has announced the sale of a 12,300 square foot multi-tenanted building located on Route 1 in Ipswich, Massachusetts. The building was situated on a portion of a 22 acre site previously operated as a mini-golf and driving range and initially acquired by an affiliate of New England Retail Properties in April, 2014 to be developed for Tractor Supply Company. Subsequent to the purchase of the property, a lease for the entire building was signed with Galleria Stone & Tile which contained provisions allowing them to purchase the property upon certain conditions being met. Galleria Stone & Tile, which has several locations throughout New England elected to exercise their right to acquire the property in December, 2016 for $950,000.
New England Retail Properties completed the construction of the Tractor Supply in [...]