CBRE facilitates $17.3 million sale of Stop & Shop at Simsbury Commons

Simsbury, CT Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners represented Primex Capital in the sale of Stop & Shop at Simsbury Commons for $17.3 million. The team also procured the buyer. 

Stop & Shop at Simsbury Commons is a single tenant, 64,948 s/f property net leased by Stop & Shop on a long-term basis. The Stop & Shop is part of Simsbury Commons, which contains complementary retailers (not included in the purchase) such as Walgreens, Raising Cane’s and Apple Cinemas. The center is situated in the heart of the Rte. 44 retail corridor, which serves the affluent residential communities surrounding Hartford. Complementary retailers within close proximity along Rte. 44 include Dick’s, Barnes & Noble, Best Buy, Walmart, Marshalls and Home Goods. 

Dunne said, “Stop & Shop recently renewed their lease and invested in their store, demonstrating their long-term commitment to the center and the market.”

Gavin said, “The buyer will benefit from the center’s stable, long-term income. We continue to see strong investor demand for centers in infill markets with high volume, credit tenants.”

CBRE’s Metro NY National Retail Partners is marketing several attractive investments including Cortlandt Crossing, a 122,000 s/f ShopRite anchored center in Mohegan Lake, NY; Price Chopper Plaza, an 84,000 s/f Price Chopper anchored center in Warwick, NY; and Big V Town Centre, a 238,000 s/f ShopRite anchored center in Vails Gate, NY.