Red Raiders Plaza is located at the intersection of Pershing Drive and Division Street off of Exit 16 of Route 8 in Derby. The center is 97.5% leased and is anchored by Xpect Discounts and Pella Windows. Near the property is a high concentration of well-known retailers including Stop & Shop, McDonald's, Burger King and ShopRite, which was formerly a Bradlees.
Jeffrey R. Dunne, vice chairman and head of the CB Richard Ellis New York Tri-State Investment Team, says of the deal, "The extensive redevelopment of the former Bradlees store is evidence of investors' willingness to deploy capital in this location. Additionally, the attractive pricing of this property provided investors an opportunity to acquire a well-located shopping center at a significant discount to replacement cost."
CBRE officials say that Derby is a hotbed of retail activity, raking in $344 million in annual retail sales volume, which the brokerage firm contends is the highest among the towns in the Naugatuck Valley in Connecticut.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
