Phillips Edison & Co. has purchased four grocery-anchored shopping centers situated throughout the Greater Boston area for $52.8 million.
The Metro Boston retail portfolio encompasses a total of 279,196 square feet across four properties in Cohasset, Easton, Hanover and Waltham. Three of the four shopping centers are anchored by Shaw’s Supermarkets, and one is a free-standing Hannaford Brothers supermarket. The portfolio is 99 percent leased.
Cushman & Wakefield’s Rob Griffin, president, Geoffrey Millerd, executive vice president, and Justin Smith, associate director, oversaw the transaction on behalf of the seller, Angelo, Gordon & Co. and WP Realty.
The portfolio includes Cushing Plaza in Cohasset, highlighted by Shaw’s, Walgreens and two free-standing banks; Shaw’s Plaza in Easton, highlighted by Shaw’s, Rite Aid and Bank of America; Shaw’s Plaza in Hanover; and Hannaford Brothers in Waltham. The grocery anchors across the Metro Boston retail portfolio have long-term leases in place.
The four properties are a component of a larger portfolio sold to Angelo, Gordon & Co. and WP Realty by Cushman & Wakefield in 2011 for $86.5 million.



