Mark Shair, president of M&J Associates, Inc., has completed the $3.14 million sale of Wethersfield Plaza, 4 Wethersfield Rd. This shopping center is located at the corner of Rte. 9 (westbound) and Wethersfield Rd. The center was one if the first shopping centers built in Metro West and dates back to the mid 1950s. It was developed by the Campanelli Corporation and is at the entrance to a large single family subdivision directly behind the center off Rte. 9.
According to Shair, "This is a very stable property with minimal turnover. Most of the tenants lease terms date back 20 years to as much as 37 years. The sale price represents a sale at about $263 per s/f."
Shair represented the seller, Sakura Realty Trust and Carole Miller, Century 21 Commonwealth, Wellesley, MA represented the buyer, A&W Investment Trust.