(Updated with additional information)

Brand Street Properties and Barings have acquired The Shops at Evergreen Walk, an open-air lifestyle shopping center in South Windsor, CT, near Hartford. Although the two companies did not identify the seller or sale price, the Hartford Business Journal reported that they paid $98.25 million to acquire it from PGIM.

Nat Heald of CBRE National Retail Partners and his team spearheaded the marketing campaign for the property and represented the seller. “The property saw deep interest from a range of institutional investors given its top-tier tenants and super-regional trade area in central Connecticut,” said Heald. “Investor demand for value-add/core-plus properties is robust, and we anticipate competition for the best retail assets will continue throughout 2026.”

Post-acquisition, Brand Street will continue managing the property, as it has done for the past five years. “The Shops at Evergreen Walk has been a cornerstone of the South Windsor retail landscape for two decades,” said Paul Brandes, president of Brand Street Properties. “This acquisition allows us to build on the strong foundation established over the last 20 years while continuing to invest in best-in-class retailers, elevated experiences and community-focused programming.”

Over the past several years, the center has undergone strategic repositioning. Recent and notable additions to the tenant roster include Whole Foods Market, lululemon, Golf Lounge 18, J.Crew Factory, Gap Factory, Nike and Bluemercury.