Ahold Delhaize Banner Stop & Shop Sells 11 Stores in $295 Million Deal
QUINCY, MA - Ahold Delhaize has revealed a pivotal business move this week, divesting 11 of its Stop & Shop banner stores. The portfolio of stores located throughout Massachusetts, Rhode Island, and Connecticut was acquired by Illinois-based real estate investment firm The Inland Real Estate Group of Cos for a combined total of $295 million. With such a large divestment, it leaves us to wonder what the retailer has up its sleeve?
According to reporting from Boston Business Journal, Winstanley Enterprises and Surry Equities sold the single-tenant retail portfolio. In total, the 11 locations span 748,141 square feet. The sale was brokered by JLL Capital Markets, who arranged a $157.95 million loan.
The portfolio of Stop & Shop locations includes:
- 19 Howley St., Peabody, Massachusetts
- 905 Massachusetts Ave., Arlington, Virginia
- 35 Bedford St, Lexington, Massachusetts
- 55 Long Pond Dr., South Yarmouth, Massachusetts
- 469 Pleasant St., Attleboro, Massachusetts
- 595 Smithfield Rd., North Smithfield, Rhode Island
- 446 Putnam Turnpike, Greenville, Rhode Island
- 333 W. River St., Providence, Rhode Island
- 1391 Main St., Willimantic, Connecticut
- 195 West St., Cromwell, Connecticut
- 15 Franklin St., Seymour, Connecticut
This acquisition comes as many investors have their sights set on grocery-anchored retail centers, as grocery sales have continued to rise amid the COVID-19 pandemic.
What will be Ahold’s next move in the grocery arena? Keep a tab open for AndNowUKnow to find out.