JLL Capital Markets announced today that it has closed the $295 million sale of — and arranged $157.95 million in acquisition financing for — a portfolio of 11 single-tenant retail buildings net leased on a long-term basis to Stop & Shop in densely populated markets throughout Connecticut, Massachusetts and Rhode Island.
JLL marketed the portfolio on behalf of the seller, Winstanley Enterprises and Surrey Equities. The Inland Real Estate Group of Companies, Inc. acquired the assets.
Additionally, working on behalf of the new owner, JLL secured two separate 10-year, fixed-rate loans with a life company and with a CMBS lender.
The pandemic-, internet- and recession-resistant retail properties are net leased to Stop & Shop, a division of Ahold Delhaize USA, Inc., the third-largest supermarket operator in the U.S. Additionally, Stop & Shop is the No. one grocer by market share in Connecticut, Massachusetts and Rhode Island.