Institutional Property Advisors, a division of Marcus & Millichap, has completed the sale of Ansonia Landing, a Stop & Shop-anchored shopping center located in Ansonia, CT. The property traded for a total of $14 million, or $153 per square foot.

The 1979-constructed Ansonia Landing is 91.5% occupied with 77% of its revenue securely generated from two essential tenants, Stop & Shop and Ansonia Discount Wine & Liquor.

Jim Koury with IPA represented the seller, Ansonia (E&A), LLC, and procured the buyer, RGMZ Acquisitions, LLC.

“Ansonia Landing consists of a freestanding, 60,000-square-foot Stop & Shop with a 31,460-square-foot multi-tenanted strip center occupied by tenants who have been there for nearly0 years,” said Koury. “The center benefits from strong traffic flow along its strategic position at the bridge, connecting the towns of Ansonia and Derby. An adjacent BJ’s Wholesale Club also draws customers to the intersection as a shadow anchor.”