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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.

Jumbo Capital Adds South Shore Shopping Center to Portfolio

by Banker & Tradesman time to read: 1 min