Stop & Shop, Walgreens sites in Mass., R.I. sold for 0M
Miami-based Orion Real Estate Group has acquired four Stop & Shop properties and seven Walgreens properties in Massachusetts and Rhode Island in se...
Miami-based Orion Real Estate Group has acquired four Stop & Shop properties and seven Walgreens properties in Massachusetts and Rhode Island in separate transactions that total just over $100 million. The real estate firm bought the Stop & Shop sites — in Framingham, Malden, Swampscott and Bristol, Rhode Island — from New York-based The Necessity Retail REIT Inc. (Nasdaq: RTL) for a combined $70 million, according to deeds recorded last week. Around the same time, Orion purchased the Walgreens properties — in Dorchester, Somerville, Quincy, Waltham, Beverly, Amesbury and Chicopee — from Walgreens itself (Nasdaq: WBA) for a little more than $30 million, according to Orion President Kevin Sanz.