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Sterling Organization Carts off $44M Grocery-Anchored Center in Braintree
West Palm Beach-based Sterling Organization has closed its $44.2-million purchase of Stop & Shop Plaza, a 173,798-square-foot neighborhood shopping center in the suburban Boston community of Braintree, MA. JLL’s Nat Heald, Chris Angelone and Zach Nitsche represented the seller.
Stop & Shop Plaza is anchored by Stop & Shop, which is the most visited grocery store within 4.5 miles. The retail center is also home to a tenants CVS Pharmacy, Town Fair Tire, The Paper Store, and Crunch Fitness.
The property is situated on 18.76 acres on Grove Street about 12 miles from downtown Boston. The center is accessible via three major highways an area with barriers to entry to new development. The center serves a dense trade area that includes 210,000 residents with an average annual household income of more than $100,000.
Stop & Shop is the dominant grocery operator in MA. Its corporate headquarters is located five miles from the property.
- ◦Sale/Acquisition
