Zelco Properties and Grossman Companies complete 175,000 s/f retail acquisition

Ansonia, CT Zelco Properties & Development and The Grossman Companies have completed the acquisition of Ansonia Shopping Center, a 175,000 s/f retail shopping center located at 403 – 495 Main St. and 75 Tremont St. The acquisition signals the beginning of a transformative repositioning effort for this retail center.

Ansonia Shopping Center has long served as an important retail destination for the surrounding community. In recent years though, the property has been underutilized and under-leased, presenting an opportunity for Zelco and Grossman to unlock the center’s full potential.

“We are excited to partner with The Grossman Companies on this acquisition,” said Dan Zelson, principal of Zelco Properties and Charter Realty. “ We see a clear path here to create a vibrant, service-oriented retail destination that will genuinely benefit the community and area at-large.”

“The Ansonia market is underserved, and we have a tremendous opportunity to introduce high-quality retail options that residents need,” said Jake Grossman. “This joint venture brings together complementary expertise and a shared vision for what this center can become. We look forward to executing our strategy and delivering meaningful results here.”

Zelco and Grossman intend to execute a comprehensive leasing and redevelopment strategy that will introduce daily needs anchors and service-oriented retailers to the property. The repositioning plan includes significant upgrades to the property’s infrastructure, including roofs, facades, HVAC systems, and parking areas, as well as tenant-specific improvements throughout the center.

The leasing program for Ansonia Shopping Center is being led by Charter Realty, the real estate brokerage and services arm of Zelco Properties. The joint venture expects to provide further updates on the repositioning progress in the near term.