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Case Study

Tedeschi Portfolio: Marketing a blockbuster supermarket portfolio

Services provided: Investment sales

Tedeschi Realty Corporation sought out a real estate service provider to help them sell their portfolio of 25 retail properties throughout New England. After completing a competitive search among the nation’s top retail-investment sales firms, Tedeschi selected Jones Lang LaSalle to market and sell the portfolio which had been built over five decades by the Tedeschi family and partners.

The offering would be the largest portfolio sale of dominant supermarket anchored shopping centers in New England history. Tedeschi anticipated a high level of interest in the sale, and they engaged our retail investment sales team with full confidence in our capability to handle this size transaction.

Comprising 1.8 million square feet of first-class retail space, the portfolio included a range of property profile types we had to take into consideration for our marketing-and sales strategy. The property types included (1) single-tenant supermarkets, (2) supermarket-anchored centers and (3) non-anchored neighborhood centers.

Our team implemented a marketing strategy specifically designed for the portfolio that succeeded in generating a record-setting number of confidentiality agreements, offers and pricing. We procured the Denver-based buyer Dividend Capital, who purchased the portfolio for $377 million. Furthermore, our real estate investment banking team helped Dividend Capital secure $218 million in financing for the acquisition.

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