Connecticut

Compo-Shopping-Center_Westport-Conn

Westport, Conn. — Regency Centers has purchased Compo Shopping Center in Westport for $45 million. CVS/pharmacy anchors the center, which comprises two retail buildings. Dubbed Compo I and Compo II, the property’s buildings were 92 percent occupied at the time of sale. Totaling 76,368 square feet, the center will be joined with Regency’s adjacent retail center, Compo Acres. Together, the properties will form Compo Acres Shopping Center, which will total 120,000 square feet. Joanna R. Manfro of Matthews Real Estate Investment Services represented the undisclosed seller in the transaction. 

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Rocky Hill, Conn. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $9.5 million loan for the refinancing of a retail center located in Rocky Hill, located just south of Hartford. Tenants at the property include a supermarket and a bank. Gerald Kray of MMCC arranged the loan, which was structured with a five-year term, 7.1 percent interest rate and 65 percent loan-to-value ratio. 

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Chesire-Crossing_Cheshire-Conn

Cheshire, Conn. — Regency Centers has acquired land in Cheshire, with plans to develop a 152,000-square-foot retail center at the site. Dubbed Cheshire Crossing, the property will comprise the retail component of the master-planned Stone Bridge Crossing community. Whole Foods Market will anchor the center, which will also feature a 23,000-square-foot T.J. Maxx, 18,000 square feet of junior anchor space, five outparcels and 38,000 square feet of inline shop space. 

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Stratford, Conn. —Atlantic Capital Partners has negotiated the $24.6 million sale of North Town Center, a 115,000-square-foot shopping center located in the southern coastal Connecticut city of Stratford. Big Y Supermarket has anchored North Town Center, which was 93 percent leased at the time of sale, since 2008. Other tenants at the property include X-Golf, Town Line Liquors and Town Fair Tire. Justin Smith, Chris Peterson, Sam Koonce and Matt Ericson of Atlantic Capital Partners represented both the buyer and seller in the transaction. Stephen Joseph of Atlantic Capital arranged long-term …

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Manchester-Parkade

Manchester, Conn. — Marcus & Millichap has brokered the $19.2 million sale of Manchester Parkade, a 302,000-square-foot shopping center located in Manchester, on the eastern outskirts of Hartford. Tenants at the center, which originally opened in 1962, include Dollar Tree, Planet Fitness, Kidzone and the State of Connecticut Department of Children’s Services. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller, the estate of Leon Charney, in the transaction. John Krueger of Marcus & Millichap assisted in closing the deal as the broker of record.

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South Windsor, Conn. — Whole Foods Market will open a new, 43,406-square-foot store in South Windsor. This will mark the fifth location for Whole Foods in the Hartford area.  Situated within The Shops at Evergreen Walk, the store is scheduled to open Jan. 17 and will feature more than 1,000 local items from New England. 

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Hillview Plaza

Rocky Hill, Conn. — Chozick Realty has brokered the $11 million sale of Hillview Plaza, a 33,799-square-foot retail center located in Rocky Hill, roughly 10 miles south of Hartford. Tenants at the property include Webster Bank, Salute Restaurant and Dunkin Donuts. Tom Boyle and Jordan Pinto of Chozick Realty represented the undisclosed seller and procured the buyer in the transaction.

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Hilltop-Commons_Derby-Conn

Derby, Conn. — CBRE has arranged the $33 million sale of Hilltop Commons, a newly redeveloped retail center located in Derby. Biy Y, CVS/pharmacy, Dollar Tree and American Freight anchor the property. Other tenants at the center include Verizon, AT&T, McDonald’s, Wendy’s and Sherwin Williams. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, DLC And Hutensky Capital Partners, in the transaction. Kempner Properties and Lee & Associates NYC acquired the property. 

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A-and-G-Rite-Aid

Camp Hill, Pa. — A&G Real Estate Partners will market 79 Rite Aid store leases for sale, in its capacity as real estate advisor to the company, pending approval by the U.S. Bankruptcy Court for the District of New Jersey. Part of Rite Aid’s financial restructuring process, this marks the third tranche of leases to be sold and follows a set of 92 store leases that became available in November. Ranging from 5,502 to 31,468 square feet, the leases are located in 11 states, including California, Connecticut, Maryland, Michigan, New Jersey, …

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Church-Hill-Rd_Newtown-Ct

Newtown, Conn. — Arrowhead Properties has purchased a 17,557-square-foot shopping center located on Church Hill Road in Newtown.  An entity doing business as Church Hill & Queen LLC sold the property for $3.4 million. Bruce Wettenstein of Vidal/Wettenstein represented the seller in the transaction. Joe Wrinn and Garett Palmer of Coldwell Banker Commercial represented Arrowhead. 

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