Wallingford, Conn. — CBRE has arranged the $21.4 million sale of Wallingford Fair Shopping Center, a 115,000-square-foot grocery-anchored center located in Wallingford, approximately 25 miles south of Hartford. ShopRite anchors the property, which also features a self-storage facility and a Petco store. Nat Heald, Jordana Roet, Connor Scott and Kyle Juszczyszyn of CBRE represented the seller, Feldco Development Corp., and procured the buyer, United Hampshire US REIT, in the transaction.
New York — Newmark has arranged a $415 million loan to refinance a retail portfolio across Connecticut, Pennsylvania, New Jersey and Massachusetts. Totaling 2.4 million square feet, the portfolio comprises 13 open-air centers that are located in densely populated infill markets. Twelve of the properties are anchored by grocery tenants. Jordan Roeschlaub, Nick Scribani, John Caraviello and Dan Axelson and Adam Doneger of Newmark secured the financing through HPS Investment Partners on behalf of a separate managed account for the borrowers, DRA Advisors and KPR Centers.
Stamford, Conn. — CBRE has negotiated the sale of a 153,416-square-foot shopping center located in the southern coastal Connecticut city of Stamford. Whole Foods Market and Saks OFF Fifth anchor the center at 110 High Ridge Road, which is a redevelopment of a former Lord & Taylor department store into a multi-tenant center. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, HBS Global Properties, in the transaction. The trio also procured the buyer, an entity doing business as 110 High Ridge Road LLC.
Plainville, Conn. — Marcus & Millichap has brokered the $5.2 million sale of Olde Canal Plaza, a 34,194-square-foot retail center located in Plainville, a southwestern suburb of Hartford. Built in 1987 on more than 3 acres, Olde Canal Plaza is 93 percent leased to office, medical and retail tenants, such as The Pottery Piazza, Husky Pizza, Connecticut Centers for Neuropathy and sweetFrog Yogurt, according to Loop Net. Mark Krantz and Derrick Dougherty of Marcus & Millichap procured the buyer, a private investor based in New York. Frank Amodio and Eric Amodio of Amodio & …
Derby, Conn. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $15.4 million sale of Derby Shopping Center, a 170,683-square-foot shopping center located in Derby, eight miles west of New Haven. Built in phases from 1985 to 2023, Derby Shopping Center is home to a mix of tenants including Splash Car Wash, Webster Bank, Dunkin and Lowe’s Home Improvement, which occupies 90 percent of the property’s total square footage. Jim Koury of IPA and Henry McKenney of Marcus & Millichap represented the seller and procured …
Windsor, Conn. — CBRE has arranged the $98 million sale of The Shops at Evergreen Walk, a 400,000-square-foot lifestyle center in Windsor, a northern suburb of Hartford. Brand Street Properties and Barings acquired the property, while Nat Heald of CBRE National Retail Partners represented the seller, PGIM, in the transaction. Anchored by Whole Foods Market, The Shops at Evergreen Walk features a mix of additional tenants including L.L. Bean, Apple, Anthropologie, Pottery Barn, Sephora, lululemon, Nike and Williams-Sonoma.
Rocky Hill, Conn. — Marcus & Millichap has negotiated the $14.3 million sale of Big Y Plaza, a 60,947-square-foot grocery-anchored shopping center in Rocky Hill, approximately eight miles south of downtown Hartford. Built in 1988 on 14 acres, the property is fully occupied by Big Y Supermarket and Wells Fargo Bank. Joseph C. French Jr. and Jeffrey Stearney of Marcus & Millichap marketed the property on behalf of the seller, a private Connecticut-based company, and procured the buyer, a private New York-based investor. John Krueger was Marcus & Millichap’s broker of …
Bristol, Conn. — Sterling Organization has acquired Bristol Plaza, a 263,829-square-foot grocery-anchored shopping center located in Bristol, approximately 20 miles southwest of Hartford, for $44.4 million. Bristol Plaza was 93.1 percent occupied at the time of sale to tenants including a Stop & Shop supermarket, T.J. Maxx, Burlington, Dollar Tree and Starbucks Coffee. Chris Angelone, Zach Nitsche, Alex Quinn, Sam Wiesman and Henry Schaffer of JLL’s Investment Sales and Advisory team represented the seller, Federal Realty Investment Trust, in the transaction.
Old Lyme, Conn. — A joint venture between Zelco Properties & Development, Grossman Development Group and The McDevitt Co. has acquired Old Lyme Marketplace, a 102,500-square-foot community shopping center in Old Lyme, approximately 40 miles southeast of Hartford. Big Y Supermarket anchors the property, which features a mix of additional tenants including Walgreens, Grand Wine & Spirits and The Bowerbird gift shop. With the acquisition, the joint venture plans to renovate the property with aesthetic enhancements and targeted leasing initiatives. The center was originally built in 1959 on nearly 24 acres, …
Norwalk, Conn. — Washington Trust has provided $12.4 million in financing for a 45,658-square-foot retail property located in the southern coastal Connecticut city of Norwalk. Marshalls anchors the center, which features other tenants such as T-Mobile and Subway, according to Showcase.com. M.F. DiScala & Co., an entity doing business as 390 Westport Avenue LLC, was the borrower. M.F. DiScala & Co. has owned the property for more than 40 years and manages a portfolio exceeding 11 million square feet across 11 states and 27 cities.
