JLL Capital Markets arranges $8.5 million sale of Stop & Shop property

Beverley, MA JLL Capital Markets has arranged the $8.5 million sale of Stop & Shop.

JLL represented the seller, Dudley Miller, Trustee of Enon Street Realty Trust and procured the buyer, Transom Real Estate, Beverly TRE LLC.

The property is positioned at 37 Enon St., along the Enon St. corridor near Massachusetts Rte. 128. This location offers visibility in one of the North Shore’s most desirable residential communities, known for its strong school district, coastal amenities and access to Boston.

The 60,666 s/f retail property is 100% leased to Stop & Shop, which has operated at the location since 1986. The site sits on 4.9 acres and holds significant historical value as the original location of the first Marshalls store in the United States, circa 1956. The property has been owned by the Marshalls family since its inception, making this a legacy transaction. 

JLL Capital Market’s investment and sales advisory team representing the seller was led by director Alex Quinn with support from Zach Nitsche, Sam Wiesman and Joe Marinaro.

“This property represented a unique opportunity to acquire a cash-flowing retail asset with significant optionality in one of Greater Boston’s most sought-after communities,” said Quinn. “The property’s exceptional location, strong demographics and historic relevance made it an attractive opportunity for the buyer.”

Beverly is located 22 miles northeast of Boston and benefits from connectivity via Interstate 95, Rte. 1A and the MBTA Newburyport/Rockport commuter rail line. The surrounding area features strong demographics, with more than 130,000 residents within a five-mile radius generating average household incomes above $140,000. Stop & Shop remains operational with a brand-new façade and has several options on their existing lease. 

“Enon Realty Associates is pleased to have completed the sale of our Enon Street property to Transom Real Estate,” said Miller. “Since the property is the site of the first Marshall’s store that opened in 1956, we are glad that it will now be owned by Transom, a well-established firm. We are very appreciative of the excellent work done by the JLL Capital Markets team who diligently guided us through the entire process.”