Holliday Fenoglio Fowler closes $44.5 million sale of Townline Sq.

Townline Sq. - Meriden, MA

Meriden, MA Holliday Fenoglio Fowler, L.P. (HFF) has closed the $44.5 million sale of Townline Sq., a 314,816 s/f, grocery-anchored shopping center in the Hartford suburb.

HFF marketed the property on behalf of the seller, Urstadt Biddle Properties Inc.  Castle Rock Equity Group LLC (Castle Rock) purchased the asset free and clear of existing debt.

Anchored by Big Y World Class Market, the 95.8% leased Townline Sq. is home to major tenants Marshalls, PetSmart, Burlington Coat Factory, Edge Fitness and Michaels in addition to Bath and Body Works, Five Below, GameStop, Jersey Mike’s, Avenue, Panera Bread, New England Dental, Sleepy’s and T-Mobile.  The two-building center was renovated in 2013 and has two outparcels, which are leased to McDonald’s and Pier One Imports.  Situated on 29 acres halfway between West Hartford and New Haven at 533 South Broad Street in Meriden, Townline Sq. is located at the convergence of I-91 and 691 and Rtes. 15 and 5.

The HFF investment sales team representing the seller was led by senior managing director James Koury and director Ben Sayles.

Castle Rock was assisted by Divvone Equity Group to locate, structure and close this deal.  David Kahan of Divvone Equity Group has successfully worked with Castle Rock on multiple transactions throughout the past year.

“Once again, our teams’ working relationships, alacrity and focus has effectuated the closing of another successful deal,” said Judah Angster Esq., CEO of Castle Rock Equity Group.