The Hampshire Companies acquire 84,360 s/f shopping center

200 Crown Colony Drive - Quincy, MA

Quincy, MA The Hampshire Companies, a full-service, private real estate investment firm, has acquired an 84,360 s/f BJ’s Wholesale Club at 200 Crown Colony Dr. from Clarion Partners.  Located in a rapidly growing market outside of Boston, the acquisition provides Hampshire with a long-term investment providing significant flexibility for adaptive reuse options in the future.

“Our decision to acquire the Quincy BJ’s property is consistent with our strategy of acquiring high-performing stable, assets in growing markets,” said Robert Schmitt, a fund manager for The Hampshire Companies. “Its proximity to Boston and the surrounding areas, as well as the long-term viability of the current tenant and possible future uses as a mixed-use residential development, provide Hampshire with a well-positioned holding that will ensure long-term cash flows.”

The City of Quincy offers an attractive demographic profile with 11 multifamily housing projects which includes 3,186 units currently under construction or recently completed.

“As Boston’s economy and population continues to grow, easily accessible suburbs like Quincy will be a popular residential destination for commuters and families and the retail opportunities present in these locations will continue to grow,” said John Goldsmith, a portfolio manager for The Hampshire Companies.

Chris Angelone, Nat Heald and Bill Moylan of JLL represented the seller in the transaction.