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Hilltop Commons in Derby Sold for $33M
Kempner Properties and Lee & Associates NYC have acquired Hilltop Commons in Derby, CT, for $33 million in a 1031 exchange from DLC and Hutensky Capital Partners.
Hilltop Commons, situated along New Haven Avenue in Derby, features a grocery-anchored center with Big Y, CVS, Dollar Tree, and American Freight, accompanied by prominent pads like Verizon, AT&T, McDonald’s, Wendy’s, and Sherwin Williams.
CBRE represented the borrower and procured the buyer with a team led by Jeffrey Dunne, David Gavin, and Travis Langer. “The center’s attractive rent roll, high-volume grocery anchor and long-term leases provide highly stable income, making Hilltop Commons a perfect 1031 exchange for the buyer,” said Dunne.
- ◦Sale/Acquisition
