A portfolio of four commercial properties in Connecticut were sold for $26.5 million.
The properties, which are part of the Guilford Commons plaza located in the town of Guilford, include a 63,100-square-foot strip mall that sold for $13 million, a 48,700-square-foot strip mall that sold for $9.8 million, a 12,000-square-foot building that sold for $2.6 million and a 6,200-square-foot building that sold for $1 million.
The portfolio was sold by DDR Guilford LLC, an affiliate of Ohio-based SITE Centers, to HRP LLC and Haverford Retail Partners of Pennsylvania. The property had a total appraised value of $29.45 million, according to town property records.
Joseph Staugaard, a principal at Haverford Retail Partners, said the property offered a “balanced merchandising mix, strong demographics in the trade area, and our ability to acquire it well below replacement cost.”
The deal recorded in late August and first reported by the Hartford Business Journal.
Photo courtesy of KBE Building Corp.
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