NORTH SMITHFIELD – NL Grocery II Exchange paid $30,699,049 to a division of Massachusetts-based Winstanley Enterprises for a 61,428 square foot retail building leased to Stop & Shop Supermarket, according to a deed recorded this week in the North Smithfield Town Clerk’s office.
The property at 595 Smithfield Road was one of 23 purchased last year by Concord, Mass.-based Winstanley and Surrey Equities LLC as part of a long-term investment strategy to acquire well located urban infill supermarkets in hard to replicate locations. The company has since marketed the lot as part of the Ahold-Delhaize Grocery Portfolio, Stop & Shop’s Netherlands-based parent company.
Winstanley recently sold the Watertown, Mass. Stop & Shop building to Equity Industrial Partners for $35.5 million in a separate deal.
NL Grocery II Exchange registered in Rhode Island on February 25 as a foreign LLC listing an address in Oak Brook, Il. The same address is listed for Inland Real Estate Group.
Built in 1991, the store sits on a 6.4 acre lot assessed at $5.3 million in 2020.
A quit claim deed signed by Adam Winstanley was filed with the town on March 23.
