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AEW Sells Hingham Lincoln Plaza for $45M
A subsidiary of Jumbo Capital Inc has purchased Lincoln Plaza, a grocery-anchored shopping center in Hingham, Massachusetts, for $45.25 million from AEW.
Lincoln Plaza spans 127,505 square feet and boasts a 99% occupancy rate with 12 residents. The shopping center is anchored by a 68,087-square-foot Stop & Shop and a 31,882-square-foot Marshalls.
The transaction was facilitated by Newmark’s Boston Capital Markets Group with a team led by Robert Griffin, Jon Martin, Paul Penman and Mathew Adler. “High-quality retail properties continue to be very liquid, even as other asset classes have perhaps seen a slowdown in demand. A combination of longstanding grocery store tenancy, investment-grade credit, first-class real estate and dense, affluent local demographics remains highly sought after,” said Penman.
