JLL secures $44.4 million sale of Bristol Plaza on behalf of seller

Bristol, CT JLL Capital Markets has secured the $44.4 million sale of Bristol Plaza, a 263,829 s/f grocery-anchored shopping center.

JLL worked on behalf of the seller, Federal Realty Investment Trust. The buyer was Sterling Organization.

Bristol Plaza is 93.1% occupied and anchored by a dominant Stop & Shop supermarket. Stop & Shop is complemented by national tenants including T.J. Maxx, Burlington, Five Below, Dollar Tree and Starbucks.

Bristol Plaza is located at 641 Farmington Ave. (State Rte. 6), the town’s primary retail corridor. The property serves over 107,000 people within a five-mile radius and is in the vicinity of ESPN’s global headquarters, which employs 3,600 people. The center benefits from accessibility to I-84 and has been ingrained in the community for over 50 years.

JLL Capital Market’s investment sales and advisory team was led by senior managing director Chris Angelone, directors Zach Nitsche and Alex Quinn and associate Sam Wiesman, with financing assistance from managing director Henry Schaffer.

“Bristol Plaza represented a unique opportunity to acquire a performing grocery-anchored retail center with a dominant anchor,” said Angelone. “The property’s strong credit tenant lineup and strategic location in Bristol’s primary retail corridor made it highly attractive to investors and led to a competitive marketing process.”