The new owner of a retail building in Jamaica Plain’s Monument Square will retain the existing uses at the high-profile location.
Monument JP Realty Trust, an entity affiliated with Milton-based Hajjar Management Co., acquired 775-783 Centre St. on Aug. 12 for $1.72 million, according to a Suffolk County Registry of Deeds filing. The seller was TFS NewCo LLC of Irving, Texas, an affiliate of 7-Eleven Corporate.
The 3,680-square-foot retail building contains American Dry Cleaners, Kamado Super Fusion and JP House of Pizza. A Tedeschi’s convenience store that occupied a corner storefront recently closed.
Paul Mahoney, COO for Hajjar Management, said the company has no plans for a significant redevelopment.
“It will remain as a retail use, with an updated facade in keeping with the vibrant Jamaica Plain market. It’s a great spot, and highly visible,” Mahoney said via email.
The new owners are in discussions with various replacements for Tedeschi’s, he said.
Commercial properties in Jamaica Plain are in demand among developers looking for opportunities for multifamily conversions, particularly along the Washington Street corridor.
The Boston Redevelopment Authority is considering new guidelines for development in Jamaica Plain as part of its Plan JP/ROX which focuses on the area from Forest Hills to Jackson Square.