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| Tess Gruenstein |
BOSTON, MA, Sept. 27, 2022 – JLL Capital Markets announced today that it facilitated the sale of a 59,519-square-foot Stop & Shop in Norwell, Massachusetts to the Bailard Real Estate Fund.
JLL represented the seller in the
transaction. This represents the second acquisition of a Stop & Shop center
in the greater Boston area for Bailard.
“Stop
& Shop is a premier supermarket operator in the market, evidenced by its
robust sales," .” said Tess Gruenstein, Senior Vice President of
Acquisitions and Portfolio Management at Bailard.
"We
were eager to add this location to our portfolio for its attractive location
and cash flow yield."
 |
| Nat Heald |
Stop & Shop is the dominant supermarket
operator in New England by both total volume and store count.
Founded
in 1914, the company currently operates over 400 locations in the U.S. and
around 126 locations in Massachusetts.
Stop
& Shop is a division of Ahold Delhaize USA, Inc., which, as a combined
entity, operates over 2,000 grocery stores and posted 2021 net sales of $45.5
billion, making it the third largest grocery operator in the United States.
Situated at 468 Washington St., the
property is located approximately 20 miles south of Boston. The store’s
location off of Pilgrims Highway (Route 3) provides customers easy connectivity
to and from the area.
CONTACT:
Jenna Sharp
JLL
M +1 214 394 3356
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