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M&M Arranges $17M Sale of 189K-SF Newington Retail Center
Marcus & Millichap recently facilitated the sale of Newington Commons, an 189,864-square-foot retail center in Newington, Connecticut, for $16.7 million.
Joseph French Jr. and Kodi Traver, investment specialists at Marcus & Millichap’s Westchester office, alongside Pierre Bonan from Mission Capital Advisors, represented the property on behalf of the receiver, Gregg Williams of Trident Pacific Real Estate Group LLC. The buyer, a private investor, was secured through their efforts.
Anchored by Stop & Shop, Newington Commons is located on Berlin Turnpike, eight miles south of Hartford. With a 65% occupancy rate, the center features tenants such as Planet Fitness and Petco. “The challenge in selling Newington Commons was finding a buyer comfortable with solving the complex short-term leases and having the vision to see the upside potential the property offers,” said French Jr.
- ◦Sale/Acquisition
