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The sale of a fully-leased strip shopping center across from Westfarms mall is another sign that open-air shopping spaces are in the forefront of the recovery in retail real estate in the aftermath of the pandemic.
A 96,691-square-foot commercial property at the West Hartford-Farmington line across from Westfarms mall has sold for $26.4 million, real estate investment firm CBRE announced Wednesday. The buyer, Agree Realty, owns commercial properties across the country, including plazas anchored by Walmart, Aldi and Best Buy. Its Connecticut holdings include properties with Autozone stores in Orange and Danbury, and a property with an AAMCO auto repair shop in Orange.
CBRE announced the $47 million sale of the grocery-anchored Essex Mall in West Caldwell, which was acquired as part of a 1031 exchange.
CBRE announced the $24.5 million sale of 25 Hanover Road, a 100% leased, 132,737-square-foot office park in Florham Park.
Gail Erwin, president of Maynard's ArtSpace board of directors, asked the Maynard Select Board to negotiate a long-term lease for the old building.