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New York & Tri-State  + Fairfield/Westchester  + Retail  | 
First National Realty Adds Connecticut Grocery Anchored Plaza to its Portfolio

First National Realty Adds Connecticut Grocery Anchored Plaza to its Portfolio

Real estate investment firm First National Realty Partners, LLC has added Sand Hill Plaza in Newtown to its expanding grocery-anchored shopping center portfolio. 

This 163,500-square-foot asset marks the Red Bank, N.J.-based firm’s first acquisition in the Connecticut market and continues its strategic nationwide expansion targeting premier open-air retail centers in primary and key secondary markets.

Located at 228 South Main Street, Sand Hill Plaza is anchored by a 61,450-square-foot Stop & Shop grocery store. A subsidiary of global grocery operator Ahold Delhaize, Stop & Shop has been a Sand Hill Plaza tenant since the center opened in 1990.  

Justin Smith and Chris Peterson of Atlantic Capital Partners represented the seller in the transaction.

It has virtually no competition within a three-mile radius. Sand Hill Plaza’s high-quality tenant roster also includes T.J.Maxx, Mattress Firm, Verizon, Great Clips and Quest Diagnostics.

“Sand Hill Plaza offered an outstanding opportunity for FNRP to establish a presence in Connecticut,” said Stephen Joseph, director of acquisitions. “With a highly affluent demographic, and proximity to New York City and the Fairfield County Gold Coast, Newtown is a perfect fit for our portfolio. And the approximately 36,800 square feet of available space at the center provides significant upside potential by way of increased occupancy and cash flow.”

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