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DLC Management Acquires Grocery-Anchored Center in Bridgeport
Newmark arranged the sale of Brookside Center, a grocery-anchored shopping center located in Bridgeport, CT, for an undisclosed sum. Managing director Paul Penman of the firm’s Boston Capital Markets Group’s retail practice represented the seller and procured the buyer, DLC Management. Co-head of U.S. Capital Markets Robert Griffin and managing director Jon Martin provided additional support.
Brookside Center is prominently located at a signalized intersection off the Merritt Parkway, a major regional thoroughfare spanning southwestern Connecticut and connects to New York. Totaling 170,665 square feet, it’s 95% leased to a diverse 13-tenant roster anchored by Stop & Shop, Marshalls, Michaels and Petco.
“There continues to be a deep bench of private and institutional equity looking to deploy in grocery-anchored real estate, and plenty of lenders willing to provide debt,” said Penman. “Presently, our clients are finding a very receptive capital markets environment for high-quality offerings.”
- ◦Sale/Acquisition
