“The successful completion of this sale is yet another positive indication of the strong demand for desirable, well-positioned retail properties,”
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.”
About Northeast Private Client Group
Founded in 2010 by Edward Jordan, Northeast Private Client Group supports real estate investors with offices in New York, Connecticut and Massachusetts. Northeast Private Client Group selected by CoStar Group, Inc., commercial real estate's leading provider of information and analytics, to receive the “Power Broker Award" for 2012 and 2013. The firm specializes in representing owners of income-producing properties and supporting those who invest and sell such properties across a region that stretches from New York to Boston. Mr. Jordan holds the Certified Commercial Investment Member (CCIM) designation and has served on the board of directors of CCIM. http://www.northeastpcg.com