East Lyme, CT Jay Morris of O,R&L Commercial, LLC sold a 60,000 s/f class A regional shopping center anchored by CVS, Tri-Town Foods Supermarket, McDonald’s and Citizens Bank for $15.5 million. Flanders Plaza, located at 9-19 Chesterfield Rd. is a multi-building mixed-use retail/office/medical plaza on 7.27 acres. At the time of sale the center was 100% leased.
Morris was the sole broker in the transaction. The seller was GFP Flanders Plaza, LLC and the buyer was Developers Consolidated Realty. The financing was provided by Brett Eagleson of Guilford Savings Bank.