Image courtesy of JLL

A Florida private equity investor has paid $44.27 million for a grocery-anchored shopping center on the South Shore.

Sterling Organization of West Palm Beach acquired the 173,798-square-foot Stop & Shop Plaza at 238-310 Grove St. in Braintree.

JLL represented the seller, TRT Braintree II LLC. Along with anchor Stop & Shop, the plaza’s tenants include CVS Pharmacy, Town Fair Tire, The Paper Store, and Crunch Fitness.

The property spans 18.8 acres and is located in an area with “enormous barriers to entry” for new development despite its location near the junction of Interstates 95, 93 and Route 3, according to a statement from JLL Managing Director Nat Heald. The property has a trade area of 210,000 residents with average household incomes above $100,000, according to JLL research.