News: Connecticut
Posted: February 20, 2014
CBRE/New England's capital markets team completes $14.25 million sale
CBRE/New England's capital markets team completed the sale of Elmwood Plaza located at 176-178 Newington Rd. The newly constructed, 80,000 s/f shopping center is anchored by Stop & Shop Supermarket and is located in the midst of the densely populated Elmwood residential neighborhood. Constructed on a former industrial site, Elmwood Plaza has made significant quality-of-life contributions to the neighborhood and in 2011 won "Best in Class" commercial project from the Connecticut Real Estate Exchange.
Winstanley Enterprises, LLC sold the property to Inland Real Estate for $14.25 million. CBRE/New England's Chris Angelone, Bill Moylan, Nat Heald and Bruce Lusa, in conjunction with CBRE Stamford's Jeff Dunne and David Gavin, represented the seller and procured the buyer in the transaction.
"We are pleased to have facilitated this transaction on behalf of Winstanley Enterprises," said Heald. "Elmwood Plaza offered Inland Real Estate a rare opportunity to acquire a newly constructed grocery-anchored property in an established New England market."
MORE FROM Connecticut
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary