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Tartaglia Commercial Properties Bags $26M for West Hartford Retail Center
CBRE has completed the $26.4-million sale of Newington Westfarms Center, a 96,691-square-foot retail property in West Hartford, CT.
Jeffrey Dunne, David Gavin and Peter Furest of CBRE in conjunction with Don Cafero of JLL represented the owner, Tartaglia Commercial Properties, and procured an institutional buyer.
Newington Westfarms Center is 100% leased and anchored by Dick’s Sporting Goods, Ulta Beauty and DSW. Dick’s and Ulta signed new long-term leases in 2020 while DSW and FedEx have been operating at the property for over eight years.
The center directly across the street from the super-regional Westfarms Mall.
“We continue to see strong demand for retail centers like Newington Westfarms Center, which provide cash flow stability and a highly attractive rent roll,” said Gavin.
“Demand is increasing for well positioned retail,” added Furest. “As we see inflation uptick, investors are pivoting towards centers leased to strong national tenants like Newington Westfarms.”
- ◦Sale/Acquisition
