A real estate entity affiliated with Ocean State Job Lot has acquired a 131,000-square-foot shopping center in Waltham.

OSJ of Waltham LLC paid $19.25 million for the River City Shopping Center on River Street, which is anchored by Ocean State Job Lot and Shaw’s Supermarket. Other tenants include Sprint, Subway, Sally Beauty and Payless Shoesource.

JLL Boston’s retail capital markets team represented sellers Mark Holdings LLC and Earle W. Kazis Assoc. of New York.

The sellers originally developed the 11-acre property in the 1960s and operated it for 50 years prior to the recent sale.

“River City Shopping Center offered investors an extremely rare chance to purchase a well positioned shopping center with a strong tenant base and potential long-term opportunity for repositioning,” JLL Executive Vice President Nat Heald said in a statement.