Bailard Real Estate Fund Buys Its Second Stop & Shop in Boston Metro
Bailard Real Estate Fund has purchased a 59,519-square-foot Stop & Shop at 468 Washington Street in Norwell, MA. The transaction marks the company’s second Stop & Shop acquisition in the Boston area.
“Stop & Shop is a premier supermarket operator in the market, evidenced by its robust sales,” said Tess Gruenstein, SVP 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,”
Stop & Shop is the dominant supermarket operator in New England by both total volume and store count, according to JLL. The company currently operates over 400 locations in the US, with 126 in MA. Stop & Shop is a division of Ahold Delhaize USA, Inc., which, as a combined entity, operates over 2,000 grocery stores, making it the third largest grocery operator in the US.
Nat Heald of JLL represented the seller in the transaction.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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