Regions Northeast | Boston
Second Phase of Sale of $377M Shopping Center Portfolio Closes
Jan 3, 2008

Jones Lang LaSalle has reported the closing of the second phase of a portfolio of 25 retail properties totaling nearly two million square feet in Greater Boston. The sale price of this second phase was $48 million, bringing the total sale price to $377 million. This is the largest portfolio of supermarket anchored shopping centers to sell in Massachusetts history. The portfolio was purchased by Dividend Capital Total Realty Trust, based in Denver. WestRidge Realty Advisors of Westport, Conn., served as a strategic advisor to Dividend Capital. Jones Lang LaSalle’s James Koury headed the sales team. The team also included Catherine Daume, Nathanial Heald, and Tina Snyder. The majority of the properties are supermarket anchored, mostly by Super Stop & Shop, the area’s dominant grocer.

 
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