News: Retail
Posted: July 29, 2022
Atlantic Capital Partners sells three grocery-anchored centers for $84.175 million - including Stop & Shop, Big Y and Shaw’s Supermarkets
Kingston, MA Atlantic Capital Partners has negotiated the sale of three institutional-quality grocery-anchored shopping centers located in Metro Boston. The portfolio is located in three communities along the southern coast of Massachusetts and consisted of the Stop & Shop in Abington, Big Y World Class Market in Kingston and Shaw’s Supermarkets in Orleans. Justin Smith, head of capital markets; Chris Peterson, vice president of capital markets; Sam Koonce, associate; Cole Van Gelder, analyst; and Ben Starr, partner oversaw the transaction which had Atlantic Capital Ptrs. exclusively representing both buyer and seller.
The portfolio is 97% leased with 60% of the total GLA occupied by one of the three grocery anchors. With each asset featuring strong sales volumes and unmatched trade-area demographics, the portfolio offers stability and surety of cash flow.
Smith said, “This unique offering affords future ownership with durable cash flow and highly productive anchor tenants that serve as the draw for these dominant shopping centers within their local communities.”
These properties are surrounded by dense populations in affluent markets with the average household income within a three-mile radius exceeding $115,000.
Peterson said, “This portfolio provides geographic diversity for the buyer and afforded the seller the opportunity to realize accretive gains on three legacy assets.”
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