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Waltham Supermarket Property Sold to Quincy Developer for $18.2M

Apr 17, 2019 | Reprints | Unlock Link

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The Grossman Cos. is expanding its retail portfolio with the $18.2 million acquisition of a Hannaford supermarket.

The Quincy-based developer acquired the 45,882-square-foot supermarket at Russell and Main streets in Waltham from Cincinnati-based shopping center owner Phillips Edison & Co.

Executive Vice President Nat Heald and Managing Director Chris Angelone led the JLL team on the transaction. Brookline Bank provided a $9 million mortgage.

“After careful evaluation of the unsolicited offer from the Grossman family, we determined the transaction supported our strategic business plan,” David Wik, senior vice president at Phillips Edison, said in a statement.

The Grossman Cos. also owns retail properties in Brookline, Cambridge, Hingham, Lexington, Medford, Needham, Newton and Wellesley.

B&T Daily