O’Connor Capital Cashes Out Pair of Cape Cod Shopping Centers
Newmark Arranges Sale Transactions Totaling More Than $120 Million With Two Different Buyers
Newmark arranged the sale of two retail shopping centers on Cape Cod in Massachusetts, including Southwind Plaza shown here, a Home Depot-anchored shopping center in Hyannis. (Image: O’Connor Capital Partners)
By Jackson Southworth
May 12, 2022 | 5:47 P.M.
New York-based O’Connor Capital Partners, a privately-owned real estate investment firm that partners with clients to invest in retail properties and residential development and redevelopment, sold a pair of Cape Cod shopping centers totaling over 500,000 square feet of retail space.
Newmark arranged the sale of both centers, which included Southwind Plaza, a Home Depot-anchored shopping center in Hyannis purchased by Bandera Ventures, and Falmouth Landing, a Walmart-anchored retail property in Falmouth bought by TA Realty.
“With high barriers to development across the submarket, retail centers such as these are hard to replicate,” said Newmark Managing Director Jonathan Martin, who was part of the team that marketed both centers.
Martin said the Cape Cod region continues to see significant population and home price growth coming out of the pandemic, which has helped fuel a healthy retail market across the region.
Southwind Plaza was 100% leased at the time of sale to The Home Depot, Whole Foods, Kohl’s, Bed Bath & Beyond and Ethan Allen, all being the sole location on Cape Cod for the retailers.
Located along Route 28, Falmouth Landing has Walmart, its only store on the Cape, along with a Shaw’s supermarket, TJ Maxx, Michaels and HomeGoods as tenants.
For the Record
Newmark Co-Head of U.S. Capital Markets Robert Griffin, Newmark Vice Chairman Geoffrey Millerd, and Managing Directors Jonathan Martin and Paul Penman represented both the seller, O’Connor Capital Partners, and the buyers in these two transactions. In addition, Newmark Managing Director Mathew Adler and Senior Financial Analyst Casey O’Brien provided support.