Previous Navy Signed for Waterville Plaza

FRAMINGHAM, MA – Grossman Improvement Group (GDG) has signed Previous Navy to a long-term lease at JFK Plaza in Waterville, ME. The property has undergone a major redevelopment over the previous three years by means of property enhancements and leasing exercise. Previous Navy is the most recent lease on the buying heart with extra bulletins deliberate for Q1 2023. 

“The addition of Previous Navy solidifies JFK Plaza because the dominant heart available in the market, offering each important and discretionary retail alongside a very fashionable Hannaford grocery store,” mentioned Jeremy Grossman, principal of Grossman Improvement Group. “We look ahead to filling the remaining area with complementary makes use of and delivering much more worth and an improved retail expertise to the neighborhood.”

The brand new 12,500 SF Previous Navy would be the first location for the favored retailer within the Waterville space. Peter Belsito of Strategic Retail Advisors represented Previous Navy within the transaction.

GDG with its companions, The New Haven Group/WI Waterville, LLC, acquired the 151,000 SF buying heart in 2019 and has invested virtually $4M within the redevelopment together with new facades, car parking zone, roofs and different heart enhancements. The property is now owned by Winter Road Companions, with GDG persevering with to deal with leasing and development administration.

JFK Plaza is positioned lower than one mile off Interstate 95 alongside the closely traveled Route 11 hall in Waterville. The middle is tenanted with standard nationwide retailers together with T.J. Maxx, Tractor Provide, and JOANN, alongside one of many area’s strongest grocery anchors, Hannaford Grocery store.

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