Thursday, June 26, 2014

CT Shoreline Retail Center Sells for $3.25 Million; Northeast Private Client Group Represents Seller Exclusively

  
Bridgeport, CT – Investment sales broker Northeast Private Client Group has announced the sale of Killingworth Village, a bank-anchored retail property located at 184 Route 81 in Killingworth, CT. 

David Almeida, a licensed commercial specialist in the firm’s Bridgeport office, represented the seller exclusively in the $3,250,000 transaction, which closed on June 18. 

“The successful completion of this sale is yet another positive indication of the strong demand for desirable, well-positioned retail properties,” said Almeida.  “We were able to create tremendous competition among qualified buyers to acquire this asset.”

David Almeida
The property, 4.5 miles north of the Clinton Crossings regional outlet center and I-95, comprises five buildings with nearly 20,000 square feet of leasable retail, office and residential space.   The property is anchored by net-leases with TD Bank and Subway.

The seller, Southport Holdings LLC of Trumbull, CT, held the asset for nearly a decade and is now refocusing on private real estate lending.  The buyer, Anderson Family Trust of Tampa, FL, acquired the Killingworth property as part of an IRS 1031-exchange strategy from the sale of multifamily properties in East Hartford, CT.

“This transaction clearly played to the strengths of our platform,” said Edward Jordan, JD, CCIM, managing director of Northeast Private Client Group.  “With offices throughout the Northeastern U.S., we leveraged our relationships to source a well-qualified buyer with competitive interests in the Connecticut real estate market.”

For a complete copy of the company’s news release, please contact:

Randy Savicky
Strategy+Communications
203.226.6156


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