Urban Edge Properties has acquired The Shops at Riverwood, a fully leased grocery-anchored, retail center located in the Boston submarket of Hyde Park, MA for $32.9 million.

The transaction was completed by the company using cash-on-hand and a new $21.5 million nonrecourse loan first mortgage secured by the property. The mortgage has a seven-year term at a fixed interest rate of 4.25%.

The Shops at Riverwood covers 78,000 square feet across six stand-alone buildings, including a future Starbucks, on an eight-acre site located seven miles south of downtown Boston.

Along with the anchor grocery store, Price Rite Marketplace, the property has an array of national and regional retail and service brands including Santander, Burger King, Boston Medical Center, and a recently opened Planet Fitness. Starbucks has executed a lease for a pad site with construction expected to begin this summer.

Urban Edge owns 76 properties totaling 17.2 million square feet of gross leasable area, primarily in the Washington, DC to Boston corridor.