JLL Capital Markets facilitated the sale of East Greenwich Square, a premier shopping center in East Greenwich, RI spanning 158,709 square feet. The transaction amount was not disclosed.
The JLL team representing the undisclosed seller consisted of senior managing director Chris Angelone, managing director Bill Moylan and director Zach Nitsche. They were supported by VP Jessica Dowd and analyst Sam Wiesman in securing the buyer – a joint venture between Brand Street Properties and Regency Centers Corporation.
Situated at 1000 Division St., East Greenwich Square boasts an impressive occupancy rate of 97%. Its anchor tenants include Dave’s Fresh Marketplace, Le’s Isle Rose, Healthtrax,Bank Newport and McDonald’s. According to Angelone: “East Greenwich Square is one of Rhode Island’s top-performing grocery-anchored shopping centers with exceptional quality.” The property garnered significant interest from institutional as well as private investors across the country which further validates its value as a best-in-class retail destination.
This recent acquisition by a joint venture marks another successful deal for JLL Capital Markets in their efforts to facilitate strategic real estate transactions nationwide.
