RK Centers Purchases Free-Standing Building Occupied by Stop & Shop in Chelmsford, MA for $7.2 Million

CHELMSFORD, MA — June 15, 2016 — RK Centers has acquired a freestanding 72,220 square foot building occupied by Stop & Shop in Chelmsford, Massachusetts, for $7.2 million. The sale was brokered by Geoffrey Millerd of NGKF Capital Markets. 

The property is located on Route 110 immediately adjacent to the Route 3 interchange at Exit 31.  It also offers convenient access to Interstate 495 at Exit 35. “We really like the long term fundamentals of the property given the regional access and the demographic profile within the trade area” said David Katz, Principal of RK Centers.

Area retailers include Market Basket, Kohl’s, TJ Maxx, Michaels, and Staples

RK Centers has been quite active in the acquisition of properties in New England, purchasing 13 properties totaling approximately 1,500,000 SF over the past 24 months.

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About RK Centers

RK Centers is a privately held, family-owned real estate development company which was founded by Raanan Katz, who continues to serve as Managing Principal of the firm. It currently owns over 7,500,000 square feet of commercial space, with expertise in the acquisition, development, and management of "open air" regional and community shopping centers in New England and South Florida. All of RK Centers' leasing and management is performed in-house by company staff. Additional information about RK Centers is available at www.rkcenters.com.

Contact Information:

Kevin Belmont

Vice President of Marketing

RK Centers

50 Cabot Street, Suite 200

Needham, MA 02494

781-320-0001

Some Completion Shots of RK (Raanan Katz) Pembroke Square re-development

Raanan Katz and RK Centers are excited about the addition of Panera Bread and Taco Bell at RK Pembroke Square. The property located just off Route 3 in Pembroke, MA and is on Church Street at the end off off ramp to the highway. On a road trip this week we capture these images of the new buildings. Enjoy.

 

Cool Image of Raanan Katz's Center @ 180th Street

Raanan Katz Shopping Center view of Sunny Isles Beach near the Phyllis and Raanan Katz Sports Center.

Article about Raanan Katz and RK Centers RK Pembroke Square Taco Bell and Panera Bread

Raanan Katz shares an update on one of his developments as owner of RK Centers.

 PEMBROKE SQUARE: Taco Bell open for business, Panera pushed to January

By Mark Burridge

mburridge@wickedlocal.com

November 22. 2014 1:10PM

PEMBROKE SQUARE: Taco Bell open for business, 

Panera pushed to January

The new Taco Bell in Pembroke Square opened for business on Halloween. But design and construction 

delays have pushed the opening of the new Panera Bread to January.

The Panera in its current condition. Wicked Local Photo/Mark Burridge

Taco Bell is open for business but Panera Bread is still under construction at Pembroke Square.

The two new restaurant chains were originally set to open in October, but design delays on the Panera store have pushed its expected opening to early in 2015.

"The Taco Bell opened on Oct. 31," said Ken Fries, spokesman for RK Centers, which owns the property. "But we're a month to a month and one half from the Panera opening."

Fries said the parking lots for both restaurants, originally set to be installed after the buildings were finished, are nearly complete.  Because of this, Taco Bell was able to open for business late last month.

"We set it up so emergency vehicles would still have access and people could get in and out," he said.

As for Panera Bread, Fries said builders are currently working on the interior. Last week crews began the treatment on the outside to keep the building weather proof heading into winter.

Lost construction time anticipated during the upcoming Thanksgiving and Christmas holidays means Panera is now on track for a January opening, Fries said.

"We lose a better part of a week for Thanksgiving and another chunk of time for the holidays," he said.

The Pembroke Square project got underway in May when the previous buildings at 155-156 Church Street, which included Au Bon Pain and an Eye Health Services office, were razed.

RK Centers owns most of the commercial property in that part of Pembroke, including the Stop & Shop across the street and recently purchased the Lowe's store located behind Pembroke Square. In total, the company owns more than 30 properties in Florida and New England.

Mark Burridge may be reached at mburridge@wickedlocal.com.

http://pembroke.wickedlocal.com/article/20141122/NEWS/141129553

RAANAN KATZ ACQUIRES THREE RETAIL PROPERTIES FOR $87.7M IN MASSACHUSETTS (rebusinessonline.com)

RAANAN KATZ ACQUIRES THREE RETAIL PROPERTIES FOR $87.7M IN MASSACHUSETTS
WORCESTER, WESTBOROUGH AND STOUGHTON, MASS. — Raanan Katz has added to its RK Centers portfolio with the acquisition of three retail properties in Massachusetts. In the first transaction, RK Centers purchased the 386,853-square-foot Worcester Crossing for $49 million from Madison Partners. Located along Route 146 in Worcester, the retail center is anchored by Walmart and Sam’s Club. RK Centers also acquired the 185,279-square-foot Westborough Speedway Plaza from Regency Centers for $18.7 million. Anchored by Stop & Shop and Burlington Coat Factory, the center is located along Route 9 in Westborough. In the final transaction, the company purchased an 89,126-square-foot single-tenant triple-net leased Kohl’s location in Stoughton. Stoughton Marketplace DST sold the property for $20 million. - See more at: http://www.rebusinessonline.com/main.cfm?id=17&date=20140708&state=MA&region=Northeast#link36543

Raanan Katz Property - Kohl's Stoughton MA

Raanan Katz Property - Kohl's Stoughton, MA

Raanan Katz  Speedway Plaza Westboro, MA

Raanan Katz Worcester Crossing - Worcester, MA

Raanan Katz  Speedway Plaza Westboro, MA

Raanan Katz Worcester Crossing - Worcester, MA

RK Centers (formerly known as R.K. Associates) is a privately held, family-owned real estate development company which currently owns over 6,000,000 square feet of retail space and 100,000 square feet of office space. RK Centers became the new name of our company on January 1, 2012 to better capture what our company does best acquiring, developing and operating prime "open air" regional and community shopping centers in New England and South Florida. With a stable business model utilizing a minimal amount of leverage, we are poised to acquire additional properties as we continue to grow our portfolio. Our company typically closes on acquisitions in less than 30 days with its own funds; thereby eliminating the need to obtain financing. With over thirty years of experience in real estate, RK Centers has a proven track record of success with tenants, customers and the communities in which we operate. All of RK Centers' leasing and management is performed in-house by company staff.

The company was founded and is principally owned by Raanan Katz, who entered the real estate development arena in the 1970s. He has guided the company with a steady growth rate which has withstood numerous market cycles. His "hands-on" approach and conservative borrowing practices have resulted in a portfolio of first-class properties with an extremely low debt structure, resulting in RK Centers being one of the more stable shopping center operators in the industry. RK Centers welcomes inquiries from national and regional retailers who are interested in drawing upon our considerable resources for assistance in site selection or other expansion needs. Please contact either Ken Fries, Andrew Fisch, or David Katz (781-320-0001) regarding our centers in New England, and Andrew Zidar, Suzie Wegrich or Dan Katz (305-949-4110) regarding our centers in South Florida

Raanan Katz first arrived in the United States in his early twenties with a reputation as an excellent outside shooter on the Israeli National Basketball Team. Raanan was invited to join the Boston Celtics training camp, where he was the final player cut from the Celtics roster, edged out by Hall of Famer, John Havlicek. Celtics Head Coach, Red Auerbach recommended Raanan to play for the U.S. All Stars, the sparring team for the world famous Harlem Globetrotters. After leaving the All Stars, Raanan settled in Boston, Massachusetts and purchased a small apartment building with the money he earned. During the next several years, he amassed over 2,000 apartment units in the Greater Boston area.

Miami Heat Raanan Katz Celebrate
 Championship On the Court

Raanan Katz Image Profile - In Israel

Raanan began to switch from residential to commercial holdings in 1980, when he acquired three retail properties in the Greater Boston area. Then, in 1984, Raanan purchased a block of stores on Miami Beach and continued to acquire properties throughout Southeast Florida and New England during the late 1980's to present.

Currently, RK Centers owns over 6,000,000 square feet of space in New England and South Florida. Raanan continues to apply his conservative real estate principles by operating with a minimal amount of debt, enabling him to sustain periodic declines in the real estate market; while continuously investing in improvements to his properties.

Raanan's vision provides for the long term viability of his holdings as a result of the constant attention to detail regarding even the smallest maintenance issues. Raanan's pride in maintaining top quality shopping centers is evidenced by his personal "signature" emblazoned on each building with the initials "RK" alongside the distinct company basketball logo. Raanan's unyielding passion for NBA basketball was finally fulfilled when he became an original partner of the Miami Heat expansion franchise in 1986. Since the team's inaugural season in 1988, he has been a fixture at courtside for Heat home games, along with his wife, Phyllis. The Heat have developed into one of the league's most successful and profitable franchises, culminating with NBA Championship titles in 2006 and 2012. With the much heralded nucleus of Lebron James, Dwyane Wade, and Chris Bosh, the Heat are well positioned to remain amongst the NBA's elite for many years to come.

Raanan also purchased a substantial interest in the Israeli basketballr team Maccabi Tel Aviv in 2003. Widely known as one of the most successful clubs in Europe and Israel, Maccabi reached the Euroleague championship game four times during Raanan's ownership tenure, including Euroleague Cup championship victories during Raanan's inaugural years of ownership in 2004 and 2005. Raanan subsequently sold his interest in Maccabi Tel Aviv in 2009, but remains heavily involved with Israeli basketball by sponsoring teams based in Jerusalem, Galil, and Holon.

Phyllis and Raanan Katz Sports Center

Raanan's tireless commitment to the development of the City of Sunny Isles Beach, Florida recently has been recognized by the City in its renaming 170th Street in Sunny Isles Beach as "Raanan Katz Boulevard". Raanan was further honored with the dedication of the Phyllis and Raanan Katz Sports Center, located behind RK Village Plaza (18200 Collins Avenue), where Raanan remains a fixture on weekend afternoons taking on all basketball challengers with his still potent outside shot.

Additionally, Raanan's development efforts have been formally recognized by numerous communities throughout South Florida and New England.

Weymouth Traffic Light @ Raanan Katz's RK Plaza is Moving Full Speed Ahead

RK Centers continues to move forward with the redevelopment of RK Plaza Weymouth. The project includes the installation of a new traffic signal and many site and building improvements.  

Here are some pictures from Raanan Katz of the progress.

Traffic Light Progress - RK Weymouth

New Traffic Pattern for RK Weymouth Plaza

Great Presentation of Raanan Katz's Real Estate Company RK Centers

Ranaan Katz and RK Centers provides this overview of properties in New England. They also own over 2 million square feet of retail in the Miami market. Please check out the website for more details.

www.rkcenters.com

Follow Raanan Katz @ www.raanankatzblog.com

Raanan Katz and His Team Start work on Weymouth, MA Redevelopment

Raanan Katz Started work on April 1st  at the RK Center - Weymouth. The project scope can we viewed in our March 31st Posting here: RK CENTERS - RK PLAZA WEYMOUTH SCOPE OF WORK

As of March 31st

Raanan Katz - RK Weymouth, MA - Redevelopment

Work has started. This image is from Today - April 17th. The initial EFIS work has started as well as the building painting prep.

Raanan Katz Progress - RK Renovation - Weymouth, MA

Here is the Brochure for the development
 

Raanan katz-weymouth-RK-Centers from RK Centers

Raanan Katz Is Not Embarrassed by an ongoing scholorship donation to basketball player development

Raanan Katz is proud and invested in basketball player development. He is weekly player of the week scholarship gives players $1,000.00 to help deffer educational and living expenses while working to develop basketball skills.

Seen here in this picture is one of the recent winners of the scholarship. You can see the Raanan Katz staple RK Logo with basketball in the image as well.

Raanan Katz Weekly Donation - Player of the Week

Raanan Katz and RK Centers update Website to show new Pembroke Square Configuration

Updated today: Here is the new configuration of RK Pembroke Square. Demolition and the proceeding construction is scheduled to start Spring 2014.

RK Centers - Raanan Katz - RK Pembroke Square

Updated Raanan Katz and RK Centers News for January / February 2014

Raanan Katz and his company RK Centers continue to move forward on various Projects throughout the Boston, MA and Miami, FL area.

1. Pembroke,MA - RK Pembroke Square's demolition and redevelopment is moving forward. As reported on wickedlocal.com (http://www.wickedlocal.com/x110125618/Project-takes-another-step-forward-in-Pembroke) Route 139 is a step closer to enjoying Taco Bell and Panera Bread. Mark Burridge posted the story go to the link to read more. Raanan Katz added the comment, "We are excited at the possibilities this project could bring to the center and jobs for the Town of Pembroke"

Building to be demolished by Raanan Katz to make was for proposed Panera Bread and Taco Bell

2. Weymouth, MA - RK Centre - Weymouth As B19 departs Raanan Katz has told us that center is positioned for redevelopment and upgrades. This spring the center will start a facade renovation, pylon replacements, and the addition of a signalized entrance at the Route 18 side of the center (Main Entrance). The plans have not been all finalized but we can confirm that the signal is set to break ground that the new main pylon and rear pylon will be installed in early/mid spring. The vendor completing the installation of the new signs is www.viewpointsign.com.

Existing Pylon Sign @ Raanan Katz Property in Weymouth 

3. North Miami, FL - RK California Club is located 1/2 mile West of I-95 on the primary road
used to access Sun Life Stadium - home of the Miami Dolphins. Raanan Katz has announced that the extensive facade renovations are being completed in connection with a comprehensive “de-malling” project. The Center is being fully converted from an enclosed mall to an “open air” center in which all storefronts will lead directly to parking field. Raanan Katz also reported that the center is surrounded by a dense residential
population with over 176,000 people within a 3 mile radius. According to his website www.raanankatz.com the property with traffic counts in excess of 50,000 cars per day is anchored by Winn Dixie, Citi Trends, Dollar Tree, CVS, Planet Fitness and many more.

In this Image Raanan Katz captured the
hallways to the existing theater

Raanan Katz Captured this interior shot as you enter the mall

Raanan Katz Captured these
 before Construction Started

Raanan Katz's RK Centers Logo seen at Israeli Basketball Cup Final Game Picture

Raanan Katz's RK Centers Logo seen at Israeli Basketball Cup Final Game - In the picture Israeli President Shimon Peres

Raanan Katz's RK Centers Logo seen at Israeli Basketball Cup Final Game - In the picture Israeli President Shimon Peres

Guitar Center - @ RK Centers - Raanan Katz (RK Queen Plaza) GRAND OPENING

Last week @ RK Queen Plaza in Southington, CT. Guitar Center kicked off its new store opening with an exciting grand opening. The parking lot had a white tent, the sidewalk had performers playing live music, and the store welcomed its new customers of the Southington area.

Raanan Katz - RK Centers - RK Queen Plaza - Guitar Center Grand Opening

(Raanan Katz) RK Centers welcomes Guitar Center to RK Queen Plaza

RK Centers welcomes Guitar Center to RK Queen Plaza

RK Centers welcomes Guitar Center to RK Queen Plaza

04-01-2013

Press Release

RK Queen Plaza is a 172,000 SF shopping center located in Southington, CT. Co-tenants include T.J. Maxx, Bed Bath & Beyond, Dollar Tree, and Bob's Discount Furniture.

Southington, CT (April 1, 2013)– RK Centers (www.rkcenters.com) and Guitar Center are excited to announce the construction of a new Guitar Center store at RK Queen Plaza in Southington, CT.  The 11,000 square foot new store’s location provides local music students and the surrounding community access to Guitar Center’s vast product selection, specialty instruments and unbeatable prices. Located at 825-875 Queen Street (Route 10), Guitar Center Southington is scheduled to open late Spring 2013 with an official Grand Opening day of music-centered activities open to the public (details to be announced).

 “We are excited to welcome Guitar Center to RK Queen Plaza and eagerly anticipate this great tenant opening their doors” said Ken Fries of RK Centers.  At RK Queen Plaza, Guitar Center will join other national retailers such as Bed Bath and Beyond, TJ Maxx, Payless Shoes, Radio Shack, and Supercuts in addition to many others. For Leasing information, contact Ken Fries or Andrew Fisch at 781-320-0001 or leasing@rkcenters.com

RK Centers (formerly known as R.K. Associates) is a privately held, family-owned real estate development company which currently owns over 6,000,000 square feet of retail space and 100,000 square feet of office space. With a stable business model utilizing a minimal amount of leverage, we are poised to acquire additional properties as we continue to grow our portfolio. Our company typically closes on acquisitions in less than 30 days with its own funds; thereby eliminating the need to obtain financing. With over thirty years of experience in real estate, RK Centers has a proven track record of success with tenants, customers and the communities in which we operate. All of RK Centers' leasing and management is performed in-house by company staff.

The company was founded and is principally owned by Raanan Katz, who entered the real estate development arena in the 1970s. He has guided the company with a steady growth rate which has withstood numerous market cycles. His "hands-on" approach and conservative borrowing practices have resulted in a portfolio of first-class properties with an extremely low debt structure, resulting in RK Centers being one of the more stable shopping center operators in the industry. RK Centers welcomes inquiries from national and regional retailers who are interested in drawing upon our considerable resources for assistance in site selection or other expansion needs. More information on Raanan Katz and RK Centers can be found at www.rkcenters.com.

Raanan Katz Minority Owner of Miami Heat/RK Centers

Raanan Katz Minority Owner of Miami Heat/RK Centers