Developers Acquire 23 Stop & Shop Properties
A partnership of Concord, Mass.-based Winstanley Enterprises LLC and New York-based Surrey Equities LLC has acquired a 23-property Stop & Shop supermarket portfolio mainly located in the New England area for $150 million.
The 1.4 million-square-foot portfolio consists of 14 stores in the New England region, along with other sites in New Jersey, New York, Pennsylvania, Virginia, North Carolina, South Carolina and Georgia.
The commercial developers bought the portfolio as part of a long-term investment strategy to acquire well-located urban infill supermarkets in hard-to-replicate locations. The properties are triple-net leased to Ahold Lease USA Inc., a subsidiary of Zaandam, Netherlands-based retail conglomerate Ahold Delhaize.
Winstanley is also the company leasing 975,000 square feet of warehouse and distribution space in Manchester, Conn., to Ahold Delhaize USA to service 200 Stop & Shop stores in New England and New York state.
Ahold Delhaize USA, whose banners are Food Lion, Giant Food, Giant/Martin’s, Hannaford, Stop & Shop, and e-grocer Peapod, is No. 4 on Progressive Grocer’s 2019 Super 50 list of the top grocers in the United States.
