The Grossman Cos. of Quincy has acquired a 5-year-old retail strip center in Cambridge’s Alewife neighborhood for $10.75 million.

The 12,128-square-foot property at 351-359 Fresh Pond Parkway is 100-percent leased to Bank of America, AT&T, Sherwin Williams, Sleep Number and The Vitamin Shoppe.

Newmark Knight Frank’s Boston-based capital markets team represented the sellers, a joint venture of Spellman Ventures and Sydney Assoc.

“Constructed in 2013 and never before brought to market, 351-359 Fresh Pond Parkway represents one of the most modern retail assets in Cambridge,” NGF Director Paul Penman said in a statement. “The property benefits from its highly visible location within a densely populated, affluent, urban neighborhood.”

The property benefits from the daily traffic count of over 41,000 vehicles on Fresh Pond Parkway and recent multifamily development in the Alewife neighborhood, with nearly 2,000 apartments completed in recent years near the MBTA’s Alewife station.