Grocery-anchored retail portfolio sells for $390m
TA Realty has paid $390 million for nine grocery-anchored shopping centers located across Greater Boston, Mass., and Providence, R.I.
Newmark and Boston Capital Markets Group represented the seller, Gravestar.
“This portfolio represented a generational opportunity — the first-time offering of the highest-quality, privately owned collection of shopping centers in New England,” said Geoffrey Millerd, a vice chairman on Newmark team. “Phenomenal investor demand for this portfolio underscores the strength of the market for premier supermarket-anchored retail assets in New England.”
“We are extremely pleased with the portfolio sale to TA Realty, a respected Boston-based institutional investor that is working with Wilder, a creative, experienced and community-oriented retail operator,” continued Millerd. “As an operator, one of Wilder’s most notable local projects is Arsenal Yards in Watertown, Massachusetts. Totaling more than 1 million square feet,