MILFORD- CT-Sports apparel retailer Bob’s Stores has renewed itsspace of more than 50,000 square feet at Milford Plaza in Milford,CT for five years. The five-year lease accounts 28 percent ofthe plaza’s total 181,000-square-foot space. Owner StonemarProperties brokered the deal.


Stonemar says in a release that the deal includes a number oftenant improvements financed in part by the landlord. Among themare upgraded storefront and pylon sign graphics, dismantling andreplacing an interior wall, installing maple color wall shelving toreplace gray-column shelving, replacing the sales floor carpet andretrofitting new ceiling tiles and lighting.


Jonathan Gould, Stonemar’s CEO, says Milford Plaza is now nearly90% occupied. The company, which bought the property with theHampshire Cos. for $30 million in November 2008, is activelymarketing the remaining 19,264 square feet.


Earlier this summer, New York City-based Gould told GlobeSt.comhe was bullish on the future of power centers such as MilfordPlaza. “We’re executing on our strategy and remain focused onbuying power or grocery-anchored centers adjacent to, or very near,major malls,” he said. “We like that profile; we like the future ofretail in these corridors.” Milford Plaza, for example, is aboutone-third of a mile down the road from the 1.4-million-square-footWestfield Connecticut Post Mall.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.