Three Stop & Shop locations sold in R.I. as part of $150M East Coast investment

THE STOP & SHOP in Smithfield was among the store properties sold in December, according to the new landlord.// PBN PHOTO/MICHAEL SALERNO

PROVIDENCE – Three Stop & Shop supermarket locations in Rhode Island and eight in Massachusetts have been purchased by Winstanley Enterprises LLC of Concord, Mass., and Surrey Equities LLC of New York, part of a $150 million package that includes 23 store sites on the East Coast.

The seller was Philip Morris Capital Corp., according to a news release. The properties will continue to operate as Stop & Shop stores, but with the Winstanley/Surrey group as the new landlord. The sale was announced by the new owners on Dec. 24.

The Rhode Island properties are at 333 W. River St., Providence, at 446 Putnam Pike, Smithfield and at 595 Smithfield Road, North Smithfield.

In Massachusetts, supermarket properties that were part of the transaction are in Fall River, Attleboro, Raynham, South Yarmouth, Peabody, Lexington, Arlington and Watertown.

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In addition to Massachusetts and Rhode Island, store locations were in New Jersey, New York, Pennsylvania, Virginia, North Carolina, South Carolina and Georgia.

Adam Winstanley, a principal of Winstanley Enterprises, a real estate development and management company, said the portfolio was acquired because it consists of prime locations and an opportunity for a unique investment, from New England into the South.

The portfolio is part of a long-term investment strategy, he said, to acquire well-located urban infill supermarkets in “hard to replicate locations.”

Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.

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