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Boston & New England  + Metro Boston  + Retail  | 
JLL has closed the $39.5-million sale of Saugus (MA) Plaza, a retail center anchored by Stop & Shop, on behalf of seller Federal Realty Investment Trust.

JLL Arranges $40M Sale of Stop & Shop-Anchored Saugus Retail Center

JLL has closed the $39.5-million sale of Saugus Plaza, a 165,800-square-foot neighborhood shopping center anchored by Stop & Shop Supermarket in the Boston suburb of Saugus, MA. The 97% leased center’s tenant mix also includes Floor & Décor, Buffalo Wild Wings, North Shore Liquor and King Crab.

JLL’s Nat Heald, Chris Angelone and Zach Nitsche represented the seller, Federal Realty Investment Trust. The Grossman Companies, Inc., and Boston-based North Colony Asset Management acquired the asset.

“Investor demand for grocery anchored properties in metro Boston far outstrips supply, and we saw competitive bidding from the full spectrum of investor-types, including REITs, funds and private groups,” said Heald.

Saugus Plaza is eight miles from Boston and sees more than 110,000 vehicles per day at its 16-6-acre site on Main Street. It is adjacent to Square One Mall in an area with more than 1,157 multi-housing units in development.

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JLL's Heald

About Lisa McDuffie

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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