ShopOne and its JV Partners Enter Massachusetts with Acquisition of Stop & Shop-Anchored Shopping Center Heritage Park Plaza in East Longmeadow
Marks JV’s 12th acquisition since its formation in March 2022
Heritage Park Plaza, which is 98 percent occupied, is strategically located along Route 83, a heavily-traveled local thoroughfare, and is serviced by three major highways – Interstates 90 (Massachusetts Turnpike), 91 and 291. More than 202,300 people reside within 5 miles of the center, with an average household income of
“Heritage Park Plaza is an institutional-quality asset with a strong and synergistic merchandising mix that is anchored by a high-volume flagship grocer, and is exemplary of the kind of asset we are seeking to acquire to grow our portfolio,” stated Chris Reed, Chief Investment Officer at ShopOne. “With its significant barriers-to-entry for new development, demonstrated tenant success and established retail trade areas, New England will continue to be a target market for us, and we are very pleased to now have a presence in this region. We look forward to serving consumers in the area and growing our footprint in mature and densely populated markets like this one, as well as in those that exhibit similar characteristics throughout the country.”
Heritage Park Plaza is the 12th grocery-anchored neighborhood shopping center the JV has acquired since March 2022. The JV has more than
ShopOne Centers is a fully integrated investment, management and operating platform focused exclusively on designing and executing strategies in
Pantheon Group* (“Pantheon”) is a leading global private markets specialist currently investing on behalf of more than 1,000 investors, including public and private pension plans, insurance companies, endowments, foundations and private wealth clients. Founded in 1982, Pantheon has an established reputation across private market asset classes, covering all stages and geographies, and provides investment solutions that include flagship fund offerings, as well as integrated programs and customized solutions.
As of December 31, 2022, Pantheon had
Pantheon is an Affiliate of Affiliated Managers Group Inc. (NYSE: AMG), a leading partner to independent active investment management firms globally.
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Source: ShopOne Centers REIT Inc.