Richmond, RI Holliday Fenoglio Fowler, L.P. (HFF) completed the sale of a 60,488 s/f Super Stop & Shop supermarket-anchored shopping center.
The HFF team marketed the property on behalf of the seller, and procured the institutional buyer.
The property comprises a Super Stop & Shop grocery store, Super Stop & Shop Fuel Center and a 5,000 s/f Anytime Fitness. Located at 22 Kingstown Rd., the shopping center is at the I-95 and Rte. 138 interchange, which serves the communities of Narragansett, Block Island and Charlestown. There are more than 58,000 residents within the property’s 10-mile trade area.
The HFF investment advisory team representing the seller consisted of senior managing director James Koury.
According to Koury, “This represents an attractive opportunity for Agree as Stop & Shop not only has a commanding market share in the state of R.I., but there isn’t another grocer to compete with their Richmond store within a 15-mile radius.”