Institutional Property Advisors Brokers Stop & Shop-Anchored Retail Center in Groton
Institutional Property Advisors has facilitated the sale of Groton Square, a 196,802-square-foot shopping center anchored by Stop & Shop in Groton, CT.
Jim Koury of Institutional Property Advisors, a division of commercial real estate services firm Marcus & Millichap, both represented the seller and procured the buyer.
“Groton Square is anchored by the No. 1-ranked Kohl’s and the No. 2 Stop & Shop within 30 miles,” said Koury. “The anchor tenants have anchored the center for 22 and 35 years, respectively.” Groton Square’s other tenants include Panera, Xfinity, PhysicianOne Urgent Care, CosmoProf, Verizon and Moe’s Southwest Grill.
Groton Square is located on Connecticut Route 12, with accessibility from Interstate 95 and State Route 184. The Naval Submarine Base in New London is two miles away and the University of Connecticut Avery Point is nearby. Major employers in Groton include Pfizer, General Dynamics Electric Boat, and Mystic Marriott Hotel & Spa.