JLL Closes $8.5M Single-Tenant Retail Transaction North of Boston

An 8.5 million dollar deal has officially reshaped the retail landscape in a key Boston suburb. JLL Capital Markets has successfully mediated the sale of a substantial, freestanding commercial property situated roughly 20 miles northeast of the city's downtown core. The single-tenant building spans 60,666 square feet, reflecting the type of large-footprint commercial infrastructure that continues to attract institutional capital.

Key Details

The subject of the transaction is a 60,666-square-foot standalone retail asset located in Beverly, Massachusetts. This North Shore community sits approximately 20 miles from Boston's central business district, making it a strategic location for commercial operators seeking access to a dense suburban consumer base without the premium price tag of downtown real estate.

According to Shopping Center Business, JLL Capital Markets represented the seller in the transaction. The seller was the Marshalls founding family, who had owned the property since it opened as the first Marshalls store in the United States in 1956. The tenant is Stop & Shop, which has operated at the property since 1986. The buyer was not disclosed. The deal was brokered by JLL's Alex Quinn, Zach Nitsche, Sam Wiesman, and Joe Marinaro.

Market Context

For commercial real estate professionals, this transaction serves as a pulse check on the Greater Boston suburban retail submarket. Over the past several quarters, the single-tenant net-lease (STNL) sector has maintained its status as a highly favored asset class. Driven by predictable cash flows and the external management of operating expenses passed directly to tenants, these properties offer a defensive play against broader economic volatility and fluctuating interest rates.

This $8.5 million transaction underscores continued investor appetite for necessity-based, single-tenant retail assets in suburban Boston.