CBRE arranges $98.25m sale of The Shops at Evergreen Walk

South Windsor, CT CBRE has completed the sale of The Shops at Evergreen Walk, an open-air lifestyle shopping center, in central Connecticut. Brand Street Properties and Barings acquired the grocery-anchored retail center located at 501 Evergreen Way from PGIM for $98.25 million. 

Nat Heald of CBRE National Retail Partners and his team spearheaded the marketing campaign for the property and represented the seller in the transaction. 

“The property saw deep interest from a range of institutional investors given its top-tier tenants and super-regional trade area in central Connecticut,” said Heald. “Investor demand for value-add/core + properties is robust, and we anticipate competition for the best retail assets will continue throughout 2026. We are proud to have represented PGIM in this transaction and thank both the buyer and seller for an incredibly swift and smooth transaction.”

“We are incredibly excited to acquire The Shops at Evergreen Walk, and to partner with Barings to drive the property to its full potential,” said Jordan Brandes, who along with Paul Brandes, lead the acquisition effort for Brand Street Properties. “Our experience operating the shopping center has given us the highest confidence that Evergreen will continue to thrive as we attract best in class tenants to the property.”

The Shops at Evergreen Walk is anchored by a recently opened Whole Foods Market, along with junior anchors L.L. Bean, Apple, Anthropologie, Pottery Barn, and Williams-Sonoma. The property has 3.4 million shoppers annually, making it one of the most visited lifestyle center in the state. The Shops at Evergreen Walk is situated off the intersection of I-84 and I-291 and draws shoppers from a super-regional trade area, capturing all of central state’s population density and wealth.