Investment sales broker Northeast Private Client Group has completed the sale of Killingworth Village, a bank-anchored retail property located at 184 Rte. 81. David Almeida, a licensed commercial specialist in the firm's Bridgeport office, represented the seller exclusively in the $3.25 million transaction.
"The successful completion of this sale is yet another positive indication of the strong demand for desirable, well-positioned retail properties," said Almeida. "We were able to create tremendous competition among qualified buyers to acquire this asset."
The property comprises five buildings with nearly 20,000 s/f of leasable retail, office and residential space. The property is anchored by net-leases with TD Bank and Subway.
The seller, Southport Holdings LLC of Trumbull, held the asset for nearly a decade and is now refocusing on private real estate lending. The buyer, Anderson Family Trust of Tampa, Fla., acquired the Killingworth property as part of an IRS 1031-exchange strategy from the sale of multifamily properties in East Hartford.