Newton retail strip sells for $6.9m, says Coldwell Banker Commercial NRT

Photo courtesy of Coldwell Banker.
Photo courtesy of Coldwell Banker.

Academy Realty LLC has sold a Newton Center retail strip to Prower LLC, a local Newton-based investment corporation, for $6.9 million, said a broker involved in the transaction.

The broker is Todd Glaskin of Coldwell Banker Commercial NRT, who represented the buyer.

Located across from the municipal parking lot in Newton Center and not far from an MBTA Green Line stop, the retail strip at 792 Beacon St. features more than 6,000 square feet of space on the main retail level, as well as about 6,000 square feet of lower-level space with elevator access. The building’s tenants include a Citibank location and a Miniluxe salon.

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Ted Chryssicas of Colliers International represented the seller in the transaction.

“Net-leased retail opportunities in such a prime location in an affluent suburb located steps away from parking and public transportation are incredibly rare,” Glaskin said in a statement.