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New England Development sells Medford, Mass., shopping center for $86M

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New England Development sells Medford, Mass., shopping center for $86M

New England Development sold the Meadow Glen shopping center in Medford, Mass., to an affiliate of German asset management company DWS for $85.7 million, the Boston Business Journal reported, citing a Middlesex County deed.

The 300,000-square-foot retail complex, previously known as Meadow Glen Mall, is anchored by supermarket chain Wegman's, with other tenants including Dick's Sporting Goods, department store chains Kohl's and Marshalls and pet food retailer Petco.

New England Development, which did not respond to requests for comment, was represented by HFF in the deal, according to the publication.