Massachusetts Stop & Shop Sells

JLL Capital Markets arranged the sale of a 59,519-square-foot, single-tenant grocery store in Norwell, Massachusetts

JLL Capital Markets announced today that it facilitated the sale of a 59,519-square-foot Stop & Shop in Norwell, Massachusetts to the Bailard Real Estate Fund.

JLL represented the seller in the transaction. This represents the second acquisition of a Stop & Shop center in the greater Boston area for Bailard.

Stop & Shop is the dominant supermarket operator in New England by both total volume and store count. Founded in 1914, the company currently operates over 400 locations in the U.S. and around 126 locations in Massachusetts. Stop & Shop is a division of Ahold Delhaize USA, Inc., which, as a combined entity, operates over 2,000 grocery stores and posted 2021 net sales of $45.5 billion, making it the third largest grocery operator in the United States.

Situated at 468 Washington St., the property is located approximately 20 miles south of Boston. The store’s location off of Pilgrims Highway (Route 3) provides customers easy connectivity to and from the area.

“Stop & Shop is a premier supermarket operator in the market, evidenced by its robust sales. We were eager to add this location to our portfolio for its attractive location and cash flow yield,” said Tess Gruenstein, Senior Vice President of Acquisitions and Portfolio Management at Bailard.

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Managing Director Nat Heald.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

About Bailard, Inc.

The Bailard Real Estate Fund is an actively-managed open-end, core equity real estate vehicle with a strategy to maintain and grow a portfolio of high-quality assets diversified across property types, major U.S. metro areas, and investment life cycles. As of June 30, the Fund’s Gross Asset Value

was $1.5 billion, invested in 32 properties across 20 U.S. markets. An independent firm since its founding in 1969, Bailard stands committed to its values and, most importantly, its clients.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.