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.
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.
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, …
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.
West Haven, Conn. — Houlihan-Parnes Properties has arranged a $2.6 million loan for the refinancing of Savin Rock Plaza, a retail center located in West Haven. Tenants at the property include Family Dollar, Peoples Bank and Dunkin’ Donuts. Built in 1985, the center was 80 percent leased at the time of financing. Jeremiah Houlihan and James Coleman of Houlihan-Parnes secured the 10-year financing on behalf of the undisclosed borrower.
Windsor, Conn. — First National Realty Partners (FNRP) has acquired Windsor Court, a 78,500-square-foot shopping center located in Windsor, roughly 10 miles outside Hartford. A 64,195-square-foot Stop & Shop anchors the property. Other tenants include AT&T, Windsor Court Wine, Great Clips and Edible Arrangements. Paul Penman and Johnathan Martin of Newmark represented the undisclosed seller in the transaction.
Milford, Conn. — Private equity firm Roark Capital has entered into a definitive agreement with Subway to acquire the Milford-based restaurant chain. The price was not disclosed, but according to CNBC, Subway previously sought $10 billion, and The Wall Street Journal reported on Monday that Roark offered $9.6 billion. According to CNBC, other bidders reportedly included TDR Capital and Sycamore Partners. Founded more than 50 years ago by Peter Buck and Fred DeLuca, Subway boasts 36,592 restaurants globally, according to the company website. Market-research firm Technomic has reported that the chain garnered $9.8 billion in domestic sales …
Shelton, Conn. — GreenLake Asset Management LLC has provided a $34.4 million loan for the refinancing and construction of Fount Square, a retail center currently underway in Shelton. Development at the property previously halted due to construction liens and partnership complications. The undisclosed borrower has used the loan to settle outstanding financing and more than 60 vendor liens, as well as complete a partnership buyout and also plans to use the funding to complete the project. Tenants at the property will include Chick-fil-A, Panera Bread and Taco Bell.
Greenwich, Conn. and Jacksonville, Fla. — Jacksonville-based REIT Regency Centers (NASDAQ: REG) has agreed to acquire Urstadt Biddle Properties (NYSE: UBA) in an all-stock transaction valued at $1.4 billion. Urstadt Biddle Properties is a REIT based in Greenwich that primarily invests in shopping centers. The combined company will have a market capitalization of approximately $11 billion and total enterprise value of approximately $16 billion. The combined portfolio will comprise 56 million square feet of gross leasable area across 481 properties. Under the terms of the agreement, Urstadt Biddle’s stockholders will …
Ellington, Conn. — An affiliate of Connecticut-based Cornerstone Properties has sold Valley Farms Shopping Center, a 99,936-square-foot retail property located in Ellington, a northeastern suburb of Hartford, for $27.7 million. Big Y World Class Market anchors the center, which was originally built in 2007 on a 30-acre site. Other tenants include McDonald’s and Liquor World. Tom Boyle of locally based brokerage firm Chozick Realty represented the seller and procured the undisclosed buyer in the transaction.
