9:30 AM
NGKF Capital Markets has successfully completed the sale of Lincoln Plaza in Hingham, Massachusetts. Executive Managing Director Geoffrey Millerd, Managing Director Justin Smith and Associate Directors Paul Penman and Matthew Waisnor of the NGKF Capital Markets Boston team, which is led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction of the grocery-anchored shopping center on behalf of the trustees of Curtlo LLC.
In addition to the asset’s 68,087-square-foot Stop & Shop anchor, Lincoln Plaza also features a 31,882-square-foot Marshalls. Together, these high-performing stores anchor a diverse tenant roster highlighted by national, regional and local retailers with two freestanding pads occupied by 99 Restaurant & Pub and Rockland Trust.
“Stop & Shop’s store at Lincoln Plaza is one of its top-producing stores in Massachusetts, which certainly helped drive institutional interest from the investment community,” said Smith. “The regionally-dominant grocer is headquartered just 4.5 miles away in Quincy, which makes this store a highly-coveted location for Stop & Shop.”
Lincoln Plaza is conveniently accessible via two signalized intersections along Route 3A, the major thoroughfare serving Massachusetts’ affluent coastal South Shore communities. This prime retail location features a three-mile population count of 56,300 people with an average household income of $99,800. The subject property is also well situated just moments from the Hingham Shipyard, a premier mixed-use development including synergistic retail space, a 230-unit apartment community and MBTA commuter ferry service.
“By virtue of its location in the affluent South Shore, Hingham is one of the most desirable residential communities in the region,” said Millerd. “Situated immediately across from the Hingham Shipyard, Lincoln Plaza boasts an exceptional location within this community, benefiting from significant daily traffic.”
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
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