Jim Koury, senior vice president and head of Retail Investment Sales for Spaulding & Slye of Boston, says that the asking price for the property is $51.1 million. He says major tenants that have committed to long-term leases. In addition, Tri-City Plaza, which is 90% leased and 83% occupied, offers the potential for a buyer to add "substantial value" through leasing of the available space.
Tri-City Plaza was built in 1963 by West Hartford investor Max Javit, the owner of Javit Asset Partners, and sits at the corner of Routes 83 and 30 and just off I-84. While Koury refused to divulge the identity of the seller, he did say that the sale marks, "The first time the property is being offered for sale since it was built."
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
