Franklin, MA: September 8, 2021: Summit Realty Partners Inc. is pleased to announce that Horace Mann Plaza located in Franklin, MA has once again reached 100% occupancy. Chris McMahon and Travis Ginsberg of Summit Realty Partners worked closely with the Landlord over the past 4 years to lease up the shopping center which involved breaking up a 52,000 square foot Bob’s Stores into five tenant spaces and finding a suitable replacement for Papa Gino’s who closed in late 2019.
Discussions about the breakup of the big box started with in 2017 with a vision that the Landlord could add significant value and protect their future interest in the property by diversifying the tenant mix without relying on one tenant that occupied 52,000 sf. After many strategy meetings and back of the napkin designs, the first tenant that Summit secured was Altitude Trampoline Park which leased 26,000 sf in 2018 and allowed the Landlord to start the process of breaking up the box. This project included significant architectural planning to modify the interior and the exterior of the building as well as permitting and refurbishing the multi-tenant pylon sign by the Landlord. In addition, the Landlord had to plan for major upgrades to the electrical system and completely rework HVAC service for the five tenants occupying the newly demised 52,000 sf space. In 2019, Dollar Tree leased 10,238 sf for a new store and Emma’s Quilt Cupboard leased 5,500 sf to relocate their existing business from downtown Franklin. In 2020, Pet Supplies Plus leased 7,000 sf to open a new store. Finally, in 2021, T&T Nails Spa leased the remaining 2,335 sf to open a new location which completed the 52,000 sf big box breakup. During the process, Papa Gino’s closed its 2,630 sf location in a different section of the shopping center which Summit Realty Partners released to The Dental Boutique of Franklin in 2021.
Summit Realty Partners is honored to have been a part of this rewarding project which was only made possible by the collaboration with other industry professionals including The Alevizos Group, Phase Zero Architects, John Sullivan Construction, Colliers, Bialow Real Estate, WRE Brokers, Berkshire Hathaway Realty and Carr Realty.
Horace Mann Plaza is a premier 175,000 +/- square foot grocery-anchored shopping center located in the eastern portion of Franklin, MA at the intersection of Route 140 and Chestnut Street. This shopping center offers a diverse tenant roster of both national and regional tenants including Shaw’s Supermarket, Aubuchon Hardware, Citizens Bank, Weight Watchers, Big Lots and more. The shopping center was developed in the 1960’s and continues to be owned and operated by the same family.
With over 25 years of experience, Summit Realty Partners Inc. is a full service commercial real estate firm headquartered in Lexington, Massachusetts. For more information, please visit www.summitrealtypartners.com or contact us at 781.862.9700 X3 / go@sumrp.com. We look forward to hearing from you.