Photo courtesy of Newmark

A 112,000-square-foot Milford shopping center anchored by Whole Foods Market has been acquired for $31.7 million by New England Investment Partners, a Stamford-based real estate investor.

The sale of the 14-year-old Milford Marketplace at 1634 Boston Post Road represented a “once-in-a-generation opportunity” to acquire a dominant grocery-anchored center, according to a statement by Newmark Vice Chairman Geoffrey Millerd. Newmark’s Stamford and Boston capital markets groups represented the seller and procured the buyer.

Town records identify the previous owner as Chicago-based Inland Real Estate Income Trust Inc.

Along with the Whole Foods Market, the center’s tenants include Ann Taylor LOFT, Athleta, Banana Republic, J. Jill, Jos. A. Bank, Orangetheory Fitness, The Paper Store, Plan B Burger Bar, Sport Clips and White House | Black Market.   

The property is located in a trade area comprising 130,500 residents with average household incomes of $105,700 within a 5-mile radius, according to Newmark research.