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Boston & New England  + New England  + Retail  | 

DLC, Acadia Divest Grocery-Anchored Hartford Retail for $63M

Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners represented DLC and Acadia Realty Trust in the sale of Tri-City Plaza in Vernon, CT for $62.5 million. The team also procured the buyer, East Coast Acquisitions.

Tri City Plaza is a 295,817-square-foot, ShopRite-anchored center situated directly off I-84. The center is 96% leased and in addition to ShopRite, counts TJ Maxx, Home Goods, HomeSense and Hartford Healthcare as anchors. Tri City is situated within 10 miles of Downtown Hartford and is easily accessible via I-84, Talcottville Road and Hartford Turnpike.

Dunne said, “Tri-City Plaza received significant investor interest due to its high-volume grocery anchor, central position within the market and diverse, e-commerce resistant tenant mix. Ownership completed 130,000 square feet of leasing at the center over the past five years, demonstrating the center’s dominance within the market.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition