In December 2016, O’Connell Development Group (ODG) closed a $33.3 million sale of Holyoke Crossing, a 140,361-square-foot retail power center in Holyoke, Massachusetts. Holliday Fenoglio Fowler, L.P. (HFF) represented ODG, Holyoke Crossing Limited Partnership and Holyoke Crossing Limited Partnership II (affiliates of ODG), and procured the buyer, Prestige Properties & Development Co., Inc., which is based in New York City.
O’Connell Development Group developed, and Western Builders constructed, the retail center in 1996. Since then several renovations have been completed at the property to facilitate new tenants. When sold, the retail center was 100% leased to national tenants TJ Maxx, Bed Bath & Beyond, PETCO, DXL, Barnes & Noble, Red Robin and Ulta Cosmetics.
Holyoke Crossing is located at 7-45 Holyoke Street adjacent to the super-regional Holyoke Mall in the Greater Springfield market of western Massachusetts. This location, along Interstate 91 and less than one mile from the Massachusetts Turnpike, has access to a trade area of more than 1.32 million people within a 30-mile radius.