Belchertown, MA Institutional Property Advisors (IPA), a division of Marcus & Millichap, has completed the sale of a 56,832 s/f Stop & Shop supermarket. The property sold for $14.65 million, which represents $258 per s/f.
“As the only grocer within a 10-mile radius, this Stop & Shop has strong sales, low cost of occupancy and no nearby competition,” said James Koury, senior managing director in IPA’s Boston office. “The triple-net lease has a parent guarantee from Ahold Delhaize USA.”
Koury and Marty Cohan, senior managing director investments in Marcus & Millichap’s West Los Angeles office, represented the seller and procured the buyer. Tom Shihadeh is Marcus & Millichap’s broker of record in Massachusetts.