Major supermarket-anchored plaza sells in Northeast

Spaulding & Slye recently negotiated the sale of the 42,293-square-foot Hannaford Plaza in Gardner, Mass.

The value of the transaction was $8.2 million.

Gardner Timpany LLC (Plaza Properties) sold the property to GM Crimson LLC (Crimson Capital).

At the time of sale, Hannaford Plaza was 100 percent leased by Hannaford Supermarket. Located on Route 68 at the intersection with Route 2, the center was originally constructed in 1963, with major capital improvement completed in 1986 and 1990-1993.

"The purchase of Hannaford Plaza enabled us to expand our real estate portfolio into New England and acquire a well-located grocery store with historically high sales," said Crimson Capital's Steve Malley.

Spaulding & Slye, a member of the Jones Lang LaSalle group, is a commercial real estate services and investment company operating globally.

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