The Federated Companies purchases Harbor Village for $6.25 million

Harbor Village has been sold to The Federated Companies for $6.25 million. The Cushman & Wakefield team, led by president Robert Griffin, vice president Geoffrey Millerd and senior associate Justin Smith, oversaw the transaction of the Hannaford-anchored property on behalf of Bixby Bridge Capital. Harbor Village is a premier grocery-anchored shopping center that also houses a Rite Aid, Santander (Sovereign) Bank and a McDonald's in a highly-visible location boasting strong demographics. Located with two access points from Rte. 119 (Main St.), this bustling thoroughfare is one of the most traveled in the area. "Harbor Village's location positions it for success," said Millerd. "With no competing grocers within a nearly five-mile radius,Harbor Village generates significant daily traffic as the region's only significant retail." Currently 75% occupied, Harbor Village has notable upside potential. As the only significant retail center in the immediate area, the property is expected to garner a considerable amount of interest from prospective tenants. Hanaford's lack of competition in the area also provides assurance to The Federated Companies of the long-term viability as the center's anchor.