Grocery-anchored shopping center sold in Connecticut
Boston – March 3, 2015 – CBRE/New England's Capital Markets team announced the sale of Willimantic Plaza, a grocery-anchored shopping center at 1589 West Main Street in Willimantic, Connecticut, for $12.4 million. The property is 100% leased by BJ's Wholesale Club and a mix of nationally recognized retailers including Family Dollar, Bank of America and KFC.
“We are pleased to have assisted both parties in this transaction,” said CBRE/NE's Chris Angelone. “Phillips Edison Grocery Center REIT II has acquired a well-established BJ's Wholesale Club-anchored shopping center in a robust market.”
Willimantic Plaza is located in proximity to three busy intersections that funnel regional traffic to the site from the Greater Hartford area. The property is situated along Route 32, which sees nearly 15,000 car trips per day, is close to Route 32's busy intersections with Route 6 (a primary east-west corridor of Greater Hartford) and near Route 66. In addition, Willimantic Plaza is located in near Eastern Connecticut State University, the state's third-oldest public university attended by 5,500 students.
About Phillips Edison Grocery Center REIT II, Inc. Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States. For more information on the Company, please visit the website at www.grocerycenterREIT2.com.
About CBRE/New England CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.