Marcus & Millichap arranges $12.2 million sale of Mattatuck Plaza

Marcus & Millichap Real Estate Investment Services, the nation's largest real estate investment services firm, has arranged the sale of Mattatuck Plaza, a 146,930 s/f community shopping center. The sale price of $12.2 million equates to $83 per s/f. Joseph French, a senior director in the firm's national retail group, and Thomas Dalzell, an associate director, both in Marcus & Millichap's White Plains, N.Y. office, represented the seller, a Boston-based private investment firm and the buyer, a private investor based in Florida. J.D. Parker, vice president and regional manager of the White Plains office, is Marcus & Millichap's broker of record in Conn. "Mattatuck Plaza was 80% leased at the time of the sale and attracted a great deal of interest from a wide range of investors who saw the upside potential in the lease-up of 30,050 s/f," said French. Located at 650 Wolcott St., the property is one mile from the 1.2 million s/f Brass Mill Center & Commons mall. Tenants at Mattatuck Plaza include Big Lots, Savers, Harbor Freight, Dollar Tree, Chuck E. Cheese and Rainbow.