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NORTH READING, MA-Federal Realty Investment Trust, a Rockville,MD firm, has acquired the 126,000-sf Atlantic Plaza shopping centerfrom private investor NR Plaza LLC in a joint venture with ClarionLion Properties Fund for $16.5 million. The deal marks the thirdacquisition of a grocery store-anchored retail property in easternMassachusetts for the venture in the past three months.

Atlantic Plaza is anchored by Shaw's supermarket, and theacquisition is testament to the lure of Bay Statesupermarket-anchored shopping centers to investors. This year alonehas seen a number of such properties snapped up by investors,including the JV's September acquisitions of Campus Plaza inBridgewater and Pleasant Shops in Weymouth, anchored by RocheBrothers and Foodmaster respectively. The Franklin Plaza wasacquired by Cedar Shopping Centers in November and the AlevizosGroup bought Southbridge Fair earlier this year.