Charlesbank was prepared to take $80 million for the properties a few years ago but, in a move that proved to be prescient for the firm, it pulled out of that deal at the last minute, says James Koury, a senior vice president at Spaulding & Slye Colliers who specializes in retail properties. He tells GlobeSt.com that it is over the past few years that the value of supermarket-anchored centers have gone up.

"The valuation of these centers is peaking now," he notes. "They will probably come down to historic norms soon." Koury points out that these types of properties are considered core assets and tend to hold their value better than other types of properties; but he adds that the Charlesbank portfolio was bought at the height of the market and while there is some possibility to add value to the centers, it isn't much.

Howard Sipzner, executive vice president and CFO of Equity One, tells GlobeSt.com his firm believes that a number of the properties--some of which include additional out parcels--have some opportunities for development and expansion. He points out that Equity has been looking to get into the Boston area for a while. "We've been growing nicely in the southern states but it wasn't enough," he says. "We needed to find new markets."