Dealmaker: Newmark Completes $45M Sale of Massachusetts Shopping Plaza

(Lincoln Plaza, Hingham, Mass. Photo courtesy of Newmark)

Newmark, New York, announced the $45.25 million sale of a grocery-anchored shopping center–Lincoln Plaza in Hingham, Mass.

Newmark Co-Head of U.S. Capital Markets Robert Griffin and Managing Directors Jon Martin and Paul Penman of the firm’s Boston Capital Markets Group represented the seller, AEW, and procured the buyer, a subsidiary of Jumbo Capital. Newmark Managing Director Mathew Adler provided additional support.

Lincoln Plaza is located 15 miles southeast of Boston and is anchored by Stop & Shop and Marshalls stores.

“Lincoln Plaza is exactly the type of asset that is currently attracting the most premiere commercial real estate capital,” Penman said. “High-quality retail properties continue to be very liquid, even as other asset classes have perhaps seen a slowdown in demand. A combination of longstanding grocery store tenancy, investment-grade credit, first-class real estate and dense, affluent local demographics remains highly sought after.”