Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

December 26, 2019 Deal Watch Today

Cromwell Stop & Shop among 23 supermarket properties acquired for $150M

HBJ Photo | Joe Cooper The Stop & Shop in Cromwell at 195 West St.
By Joe Cooper

A real estate portfolio comprised of 23 Stop & Shop supermarket properties, including three in Connecticut, has sold for $150 million, officials say.

Mass.-based Winstanley Enterprises, Connecticut’s largest commercial landlord, and New York’s Surrey Equities LLC say they recently acquired the supermarket properties from Stamford's Philip Morris Capital Corporation. The locations are leased by Ahold Lease USA Inc., a subsidiary of Stop & Shop parent and retail giant Ahold Delhaize.

The portfolio includes 14 Stop & Shop supermarket properties in New England and others in New York, New Jersey, Pennsylvania, Virginia, North Carolina, South Carolina and Georgia. 

In Connecticut, the properties are located in Cromwell (195 West St.), Seymour (15 Franklin St.) and the Willimantic section of Windham (1391 Main St.). Eight Stop & Shop stores in Massachusetts were also part of the deal in Watertown, Arlington, Lexington, Peabody, South Yarmouth, Raynham, Fall River and Attleboro.

The locations, spanning over 1.4 million square feet, will continue to operate as supermarkets with Winstanley/Surrey becoming the new landlord.

This marks the second deal involving Winstanley, of Concord, Mass., and Netherlands-based Ahold in recent weeks.

Earlier this month, Ahold inked a 15-year lease for 975,000 square feet at Winstanley’s sprawling distribution center in Manchester. The facility, acquired by Winstanley for $70 million last year, is considered one of New England’s largest warehouses.

Principal Adam Winstanley said its latest investment with Surrey is part of a long-term strategy to takeover supermarkets in highly dense areas.

“We felt that this portfolio was a unique investment into a series of prime locations throughout New England and into the south,” Winstanley said.

Winstanley -- led by Adam, his father David, and brother Carter -- has been one of Connecticut’s most aggressive realty investors in recent years with purchases or developments in Windsor, West Hartford, Hartford, Enfield and South Windsor, among other areas.

Despite being headquartered in Massachusetts, half of Winstanley’s staff is based in offices in Hartford, New Haven and Bristol, and the majority of its real estate holdings are located in Connecticut.

Meantime, Surrey has mainly focused on retail properties throughout the East Coast since its founding in 2004. It currently owns over 2 million square feet of retail.

Sign up for Enews

Most Recent

Most Recent

0 Comments

Order a PDF