The Lambert family, who own Lambert’s Rainbow Market stores in Dorchester and Westwood, have recently sold their properties for a combined total of $22.8 million to entities associated with a Cadillac dealership in Norwood. This news was first reported by the Boston Business Journal.
This sale comes after a legal dispute among members of the Lambert family over ownership of the real estate for these stores. The Dorchester location and surrounding plaza were purchased by Dorchester Realty Ventures LLC for $10 million, while Westwood Realty Ventures LLC acquired the Westwood store and plaza for $12.8 million.
Both entities are registered at an address linked to Cadillac of Norwood, indicating some connection with the dealership. However, it has been announced that both stores will continue operating under new 10-year leases.
This transaction marks significant changes within this market as Connect CRE reports on its recent sale without mentioning any specific company names or affiliations.
