Quincy-based Jumbo Capital added a grocery-anchored retail property to its portfolio with the $45.25 million acquisition of the 127,505-square-foot Lincoln Plaza in Hingham.
Currently 99 percent leased to 12 tenants, Lincoln Plaza is anchored by a Stop & Shop Supermarket and Marshalls.
Newmark represented the seller, AEW, and procured the buyer.
“High-quality retail properties continue to be very liquid, even as other asset classes have perhaps seen a slowdown in demand. A combination of longstanding grocery store tenancy, investment-grade credit, first-class real estate and dense, affluent local demographics remains highly sought after,” Newmark Managing Director Paul Penman said in a statement.
The property is located on Route 3A across from the Hingham Shipyard mixed-use development and MBTA commuter ferry to Boston.
The property previously sold for $41.3 million in 2017, according to property records.