Groton, CT Institutional Property Advisors (IPA), a division of Marcus & Millichap closed the sale of Groton Sq., a 196,802 s/f, grocery-anchored shopping center.

“Groton Sq. is anchored by the No. 1-ranked Kohl’s and the No. 2 Stop & Shop within 30 miles,” said Jim Koury, IPA senior managing director. “The tenants have anchored the center for 22 and 35 years, respectively.” Koury both represented the seller and procured the buyer.

Groton Sq. is located on Connecticut Rte. 12, with accessibility from I-95 and State Rte. 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.

Groton Sq.’s tenants also include Panera, Xfinity, PhysicianOne Urgent Care, CosmoProf, Verizon and Moe’s Southwest Grill.