Connecticut

Bristol-Plaza-CT
ConnecticutFinanceGrocery-anchoredNews

JLL Arranges $27.9 Million in Financing for Grocery-Anchored Shopping Center in Bristol, Connecticut

by Abby Cox

Bristol, Conn. — JLL Capital Markets has arranged $27.9 million in financing for Bristol Plaza, a 263,829-square-foot shopping center located in Bristol, approximately 20 miles southwest of Hartford, near the global ESPN headquarters. Christopher Drew, Henry Schaffer, Michael DiCosimo, Aaliyah St. Louis and Preston Bacon of JLL secured the five-year, fixed-rate loan through Voya on behalf of the borrower, Sterling Organization. Bristol Plaza, which is currently 93 percent leased, is anchored by T.J. Maxx and Stop & Shop. Additional tenants include Burlington, Dollar Tree, Five Below, Webster Bank and Starbucks Coffee.

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ansonia-shopping-center
ConnecticutInvestment salesNews

Zelco Properties, Grossman Acquire 175,000-Square-Foot Ansonia Shopping Center in Southwest Connecticut for $8.4 Million

by Abby Cox

Ansonia, Conn. — A joint venture between Zelco Properties and The Grossman Cos. has acquired Ansonia Shopping Center, a 175,000-square-foot retail center located in Southwestern Connecticut’s New Haven County, for $8.4 million. The joint venture plans to reposition the property to introduce daily needs anchors and service-oriented retailers, and will complete renovations to the roofs, exteriors, HVAC systems and parking areas, as well as tenant-specific improvements. Charter Realty, the real estate brokerage and services arm of Zelco Properties, is handling leasing for the project. Entities doing business as AGS Ansonia …

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Daves_Hot_Chicken_Fairfax
ConnecticutDevelopmentIllinoisMinnesotaNew YorkNewsNorth CarolinaOhioRestaurantsUtah

Dave’s Hot Chicken Opens Record Eight Restaurants in a Single Day

by Abby Cox

Pasadena, Calif. — Dave’s Hot Chicken opened eight new restaurants on April 16, expanding its footprint to more than 400 locations worldwide. The fast-casual concept, which originated in Los Angeles, is bringing its Nashville-style hot chicken to multiple markets, including Fairlawn, Ohio; Oneonta, New York; Edina, Minnesota; Gastonia, North Carolina; Arlington Heights, Illinois; Miami; Saratoga, Utah; and Waterford, Connecticut. Founded in 2017, Dave’s Hot Chicken has sold the rights to more than 1,020 franchise locations in the U.S., Europe, the Middle East and Canada, and will open 70-plus locations this year.

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Wallingford Fair Shopping Center
ConnecticutGrocery-anchoredInvestment salesNews

CBRE Arranges $21.4 Million Sale of Wallingford Fair Shopping Center in Southern Connecticut

by Abby Cox

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.

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Franklin Village Plaza
ConnecticutFinanceGrocery-anchoredMassachusettsNew JerseyNewsPennsylvania

Newmark Group Arranges $415 Million in Financing for Northeast Grocery-Anchored Retail Portfolio

by Abby Cox

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.

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110-High-Ridge-Road-Stamford
ConnecticutGrocery-anchoredInvestment salesNews

CBRE Negotiates Sale of 153,416-Square-Foot Shopping Center in Stamford, Connecticut

by Abby Cox

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.

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Olde Canal Plaza
ConnecticutInvestment salesNews

Marcus & Millichap Brokers $5.2 Million Sale of 34,194-Square-Foot Retail Center in Suburban Hartford

by Abby Cox

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 & …

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Derby Shopping Center
ConnecticutInvestment salesNews

IPA Negotiates $15.4 Million Sale of Derby Shopping Center in Connecticut

by Abby Cox

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 …

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The Shops at Evergreen Walk
ConnecticutGrocery-anchoredInvestment salesNews

CBRE Arranges $98 Million Sale of The Shops at Evergreen Walk in Windsor, Connecticut

by Abby Cox

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.

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Big Y Plaza
ConnecticutGrocery-anchoredInvestment salesNews

Marcus & Millichap Negotiates $14.3 Million Sale of Grocery-Anchored Center in Metro Hartford

by Abby Cox

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 …

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