The Hamilton Co. has acquired a newly redeveloped shopping center in Malden at 144-196 Commercial St. for $15.5 million.

The 71,000-square-foot development, known locally as "Plaza 188," is 100 percent leased and is anchored by a Super 88 grocery store.

Redeveloped by Commercial Street Venture LLC, the property was acquired with financing arranged by Robert Brown of Brookline Bank. Tenants include Ace Hardware, Brookline Bank, General Services Administration, Dunkin Donuts, and a laundromat.

"We are proud to increase our ownership stake in Malden," said Carl Valeri, president and COO of The Hamilton Co., which also owns Adams Plaza on Route 60 in Malden. "Just four years old, the shopping center is fully operational, leased and stable. The current tenants are benefiting from a strong neighborhood demographic."

David N. Ross, Trey Agnew, Scott Dragos and Doug Jacoby of NAI Hunneman brokered the transaction for the seller. Sally Michael, of Saul Ewing, represented Hamilton.