Seven-property grocery-anchored portfolio trades hands for $115M

JLL Capital Markets announces sale and acquisition financing of The East Coast Grocery Portfolio spanning multiple Southeast and Mid-Atlantic markets

ATLANTA, GA –  JLL Capital Markets announced that it has secured the $115 million sale of The East Coast Grocery Portfolio, a seven-property collection of grocery-anchored retail centers located in key markets in Georgia, South Carolina, Virginia and New Jersey.

JLL represented the seller in the transaction. The buyer was Medipower. Additionally, JLL procured acquisition financing on behalf of the buyer. 

The portfolio is comprised of approximately 558,000 square feet across seven grocery-anchored retail centers, featuring nationally recognized grocers including Publix, Kroger and Stop & Shop, with average grocer sales performance exceeding $700 per square foot. The properties have been institutionally maintained and are 99.6% occupied in aggregate. 

The Atlanta metropolitan area, the eighth-largest MSA in the United States and the top moving destination in the country, includes four properties: Hickory Flat Village in Canton, Deshon Plaza in Stone Mountain, Flat Shoals Crossing in Decatur and Cascade Corners in Atlanta. Additional assets include The Plaza at Carolina Forest in Myrtle Beach, South Carolina, Kroger Plaza in Virginia Beach, Virginia and Lewandowski Commons in Lyndhurst, New Jersey. 

JLL Capital Market’s Investment Sales and Advisory team was led by Jim Hamilton, Brad Buchanan, Andrew Kahn, Anton Serafini, Kevin O’Hearn, J.B. Bruno, Jose Cruz, Jordan Lex, Daniel Naughton and Tom Kolarczyk. The JLL Debt Advisory team was led by Gregg Shapiro, Jim Cadranell, Jon Mikula, Hunter Goldberg, Kelsey Bawcombe, Streeter Simmons and Caleb Henry. 

According to Hamilton, “The East Coast Grocery Anchored Portfolio generated significant investor interest, reflecting the continued robust flow of capital into the retail sector. The strong market response underscores investor confidence in grocery-anchored retail as a resilient asset class. Each property in the portfolio is anchored by a top-performing grocer with strong sales performance, providing stable cash flows and long-term value. The portfolio represented a unique opportunity for investors to gain immediate scale and meaningful market presence across premier Sunbelt and Southeast markets, which continue to benefit from favorable demographics, population growth, and dynamic economic fundamentals that are driving retail demand.”