Inland Real Estate Group has acquired 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.
The sales price was $295 million.
The sellers were Winstanley Enterprises and Surrey Equities.
“This portfolio’s established and necessity-based footprint, combined with 20-year leases at all 11 properties in strong market locations, is an ideal example of the opportunities we seek to acquire as we move further into 2021,” said Matthew Tice, senior vice president of Inland Real Estate Acquisitions.
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 United States. Additionally, Stop & Shop is the No. 1 grocer by market share in Connecticut, Massachusetts and Rhode Island.
The 748,141-s