Pasadena-based real estate broker JRW Realty has closed on the transaction of a $53.45 million, 102,060 square-foot single-tenant grocery store in Andover, Massachusetts.
The property is currently occupied by a Stop-and-Shop grocery store which is a wholly-owned subsidiary of Ahold Delhaize, JRW Realty said in a statement.
The statement added JRW Realty adviser Leanna Tatikian facilitated the all-cash transaction of the property under the guidance of Melinda Marston, president of Single-Tenant Net Lease Acquisitions at JRW. NNN Properties represented the seller in the transaction.
JRW Realty said it is exclusively engaged by large, all-cash buyers that are actively seeking to acquire grocery-anchored, multi-tenant shopping centers and individual net-leased properties backed by essential businesses with credit-worthy metrics.
“The clarity of JRW Realty’s clients’ strict acquisition criteria, the firm’s streamlined transaction processes, and its clients’ readily accessible balance sheet capital enable JRW Realty’s buyers to close transactions in as short as 30 days after going under contract,” the statement continued.
JRW Realty has closed over $3 billion in transactions across over 800 properties on behalf of its clients. The company said their team places special focus on due diligence reviewing over 100 properties each week, and choosing only the best 3% to 4% to source for clients.
To learn more about the company, visit www.jrwrealty.com.