Recently, Ahold Delhaize pivoted its business operations as it announced a major divestment. The retailer will be divesting 11 of its Stop & Shop banner stores located throughout Massachusetts, Rhode Island, and Connecticut. In total, the portfolio of stores amounted to $295 million and was acquired by Illinois-based real estate investment firm The Inland Real Estate Group of Cos.
According to Boston Business Journal, Winstanley Enterprises and Surry Equities sold the single-tenant retail portfolio. Cumulatively, the 11 locations span 748,141 square feet. The sale was brokered by JLL Capital Markets, who arranged a $157.95 million loan.
A PR statement sent to Deli Market News on May 4, 2021, noted that, "It's inaccurate to say that Ahold Delhaize or Stop & Shop sold these properties as they are not indeed properties that we own. Rather, we are simply the tenant at these location, which were sold by Winstanley Enterprises and Surrey Equities to Chicago-based Inland Real Estate Group of Companies. We do not anticipate any impact to our business from this real estate transaction, and no Stop & Shop stores will close as a result of this transaction."
This acquisition comes as many investors have their sights set on grocery-anchored retail centers, as grocery sales have continued to rise amid the COVID-19 pandemic.
Deli Market News will continue to keep a pulse on the retail newswire.