Concord, MA In a major year-end real estate transaction, Winstanley Enterprises, LLC and Surrey Equities, LLC. have closed on an established portfolio of 23 triple-net leased supermarkets from Ahold Lease USA, Inc., for $150 million.
Ahold Delhaize is a wholly owned subsidiary of supermarket giant Koninklijke Ahold Delhaize N.V.
Ahold Delhaize owns several popular supermarket brands including Stop & Shop, Hannaford, Food Lion, Giant, Giant Landover, and Peapod.
The acquired properties in the New England market are home to Stop & Shop branded supermarkets with Massachusetts locations in Watertown, Arlington, Lexington, Peabody, South Yarmouth, Raynham, Fall River, and Attleboro. The portfolio also includes three Stop & Shop branded stores in Connecticut located in Seymour, Cromwell and Willimantic and three Stop & Shop stores in Rhode Island located in Smithfield/Grenville, Providence and North Smithfield.
“We felt that this portfolio was a unique investment into a series of prime locations throughout New England and into the South,” said Adam Winstanley, a principal of Winstanley.
The portfolio was acquired by Winstanley and Surrey as part of a long-term investment strategy to acquire well located urban infill supermarkets in hard to replicate locations. The locations will continue to operate as supermarkets with the Winstanley/Surrey team becoming the new landlord.
“This was both an opportunity to expand our overall portfolio along the East Coast, and invest- ment into some very solidly located urban retail sites,” said Edward Silvera, president and principal of Surrey Equities.
The deal included twenty-three supermarket sites with fourteen locations being in New England and other sites located in New Jersey, New York, Pennsylvania, Virginia, North Carolina, South Carolina, and Georgia. The total square-footage is 1.4 million s/f.
The brokers in the transaction were Ben Cooper and Jim Jordan of Cushman & Wakefield and the seller was Philip Morris Capital Corp.