Stockbridge to Buy 12-Property Grocery-Anchored Retail Portfolio

Private equity firm Stockbridge has entered into an agreement to acquire a 12-property grocery-anchored retail portfolio from Branch Properties. The portfolio totals 1.25 million square feet, and all 12 properties are located in five growth markets within the Southeast region. Stockbridge has already acquired six properties, and plans to acquire the additional six over the next year with Branch maintaining a minority ownership in the portfolio.

In the initial acquisition, Stockbridge acquired Burnt Store Marketplace in Punta Gorda, FL; Village Shoppes of Sugarloaf in Lawrenceville, GA; Five Forks Corners in Lilburn, GA; Waterford Village in Wilmington, NC; Village at Waterside in Chattanooga, TN; and Lightfoot Marketplace in Virginia Beach, VA. The properties total 765,969 square feet. The grocery anchors in the portfolio include Publix Super Markets and Harris Teeter, along with other essential retailers and restaurants.