16/07/2024 10:02 AM

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Piece of That Fashion

Fully leased shopping plaza across from Westfarms mall sells for $26.4M

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A 96,691-sq.-foot industrial property at the West Hartford-Farmington line throughout from Westfarms shopping mall has sold for $26.4 million, serious estate expense agency CBRE introduced Wednesday.

The consumer, Concur Realty, owns commercial qualities throughout the region, like plazas anchored by Walmart, Aldi and Greatest Obtain. Its Connecticut holdings include things like qualities with Autozone retailers in Orange and Danbury, and a assets with an AAMCO vehicle repair shop in Orange.

The buying plaza, termed Newington Westfarms Heart, is thoroughly leased and properties Dick’s Sporting Goods and Ulta Beauty on a square-formed parcel going through New Britain Avenue. Dick’s and Ulta signed new very long-phrase leases in 2020.

Extremely Attractiveness changed Babies R Us in 2019.

DSW shoe warehouse and a FedEx delivery centre are in an adjacent building, established powering a Snooze Quantity store, which is also element of the retail centre. DSW and FedEx have been leasing space in the plaza for far more than 8 decades, according to CBRE.

The retail center is noticeable from New Britain Avenue and has a site visitors light at the primary entrance.  

The sale was brokered by CBRE’s Jeffrey Dunne, David Gavin and Peter Furest, alongside with Don Cafero of JLL, who represented the proprietor, Tartaglia Business Qualities.

Gavin explained CBRE is continuing to see sturdy demand from customers for retail facilities these kinds of as Newington Westfarms Heart, which “provide income stream security and a really attractive rent roll.” 

Tartaglia Industrial Properties owns Clocktower Procuring Center in Monroe, Waterbury Shopping Middle at 835 Wolcott St., and Cheshire Searching Center on South Main Street.

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