Cornerstone Square

JLL Capital Markets has been retained as exclusive advisor for the sale of Cornerstone Square, a +/- 236,244 SF, 98% leased grocery-anchored shopping center in Westford, Massachusetts. Anchored by Market Basket, Boston’s highest volume grocer, Cornerstone Square is one of the busiest shopping centers in the state with over 3.5 million annual visits according to Placer.ai. Market Basket has been operating at the Property since 2012 and ranks in the top 3% of grocery stores in both Massachusetts and the United States with 1.5 million annual visits.

Market Basket is joined by a combined Marshalls & HomeGoods, Petco, and an outpatient facility for Circle Health which is owned by Tufts Medicine. Combined, credit tenants account for over 60% of the Property’s gross income. Cornerstone Square was originally developed with state-of-the-art improvements in 2012 & 2013. Current WALT equates to 3.8 years as tenants rollover from their initial base terms, presenting an opportunity for a new owner to mark to market spaces that have never before been available. Additionally, there is the potential for strategic pad dispositions and lease up of the remaining 5,460 SF across two vacant suites.

Located in Greater Boston adjacent to I-495 (98,400 VPD), the Property is well-situated to serve affluent Westford shoppers and those living and working in the surrounding communities with an average household income of $210,000 within 5 miles. Other prominent tenants include Eastern Bank, Westford Veterinary Emergency Referral Center and F&B offerings such as Panera Bread, Burtons Grill & Bar, Five Guys and Evviva Trattoria.

Cornerstone Square offers investors the rare opportunity to acquire a generational, core Market Basket anchored shopping center located within Boston’s I-495 belt.