B. William Moylan, senior vice president/partner and Chris Angelone, vice president of CB Richard Ellis' northeast retail investment team, and Robert Gibson, first vice president/ partner represented the seller and procured the buyer in the transaction. "Bourne Shopping Center is a great acquisition for Eastern Development in a market with extremely high barriers to entry," notes Moylan, "and the seller, C&S Wholesale Grocers, was able to capitalize on the demand for retail properties in New England."

The center is anchored by a 36,325-sf Grand Union Family Market at the intersection of Clay Pond road and Route 28. The company is an affiliate of C&S Wholesale Grocers, and currently operates 20 Grand Union Family Markets throughout the Northeast.

The deal is the latest in a series of shopping center sales throughout eastern Massachusetts. The area's robust retail market has made the properties attractive to investors with grocery-anchored centers considered the most valuable in the market.