CBRE/New England's capital markets team completed the sale of Elmwood Plaza located at 176-178 Newington Rd. The newly constructed, 80,000 s/f shopping center is anchored by Stop & Shop Supermarket and is located in the midst of the densely populated Elmwood residential neighborhood. Constructed on a former industrial site, Elmwood Plaza has made significant quality-of-life contributions to the neighborhood and in 2011 won "Best in Class" commercial project from the Connecticut Real Estate Exchange.
Winstanley Enterprises, LLC sold the property to Inland Real Estate for $14.25 million. CBRE/New England's Chris Angelone, Bill Moylan, Nat Heald and Bruce Lusa, in conjunction with CBRE Stamford's Jeff Dunne and David Gavin, represented the seller and procured the buyer in the transaction.
"We are pleased to have facilitated this transaction on behalf of Winstanley Enterprises," said Heald. "Elmwood Plaza offered Inland Real Estate a rare opportunity to acquire a newly constructed grocery-anchored property in an established New England market."