Photo courtesy of JLL

A retail property that once housed the first Marshalls store in the U.S. was sold by the longtime owners for $8.5 million.

The 37 Enon St. in Beverly property spans 4.9 acres and currently is anchored by a Stop & Shop Supermarket. The seller was Enon Street Realty Trust, and has been owned by the family that founded the discount retailer since the 1950s.

The buyer is Transom Real Estate, Beverly TRE LLC, according to JLL, which represented the seller and procured the buyer.

The 60,666-square-foot retail property is 100 percent leased to Stop & Shop, which has operated a store at the property since 1986.

The property’s 5-mile trade area has a population of more than 130,000 with average household incomes above $140,000, according to JLL.

JLL Capital Market’s Investment and Sales Advisory team was led by Director Alex Quinn with support from Zach Nitsche, Sam Wiesman and Joe Marinaro.

“This property represented a unique opportunity to acquire a cash-flowing retail asset with significant optionality in one of Greater Boston’s most sought-after communities,” Quinn said in a statement.

Last August, Transom Real Estate announced the closing of its first investment fund, which could leverage more than $650 million toward multifamily housing projects.

The company received approval last year for a 248-unit apartment complex next to Wellington Circle in Medford, and was selected by Medford officials to develop 283 apartments on three city-owned parcels in Medford Square.