JLL Negotiates $39.5 Million Sale of Grocery-Anchored Shopping Center in Metro Boston

Saugus, Mass. — JLL has negotiated the $39.5 million sale of Saugus Plaza, a 165,800-square-foot shopping center in Saugus, roughly 11 miles north of Boston. The center was 97 percent leased at the time of sale to tenants including anchors Stop & Shop and Floor & Décor, Buffalo Wild Wings, North Shore Liquor and King Crab. Federal Realty Investment Trust sold the property to a partnership between The Grossman Cos. Inc. and North Colony Asset Management. Nat Heald, Chris Angelone and Zach Nitsche of JLL brokered the deal.