Connecticut Shopping Center Trades for $58M
TA Realty has purchased the 97%-leased, 82,000-SF, King’s Crossing shopping center in Fairfield Township, CT.
FAIRFIELD TOWNSHIP, CT – Real estate investment management firm TA Realty has acquired the 82,000-square-foot, class A shopping center, King’s Crossing, in Fairfield Township, CT for nearly $58 million.
The asset is anchored by Whole Foods Market and is 97% leased to a mix of needs-based tenants, including CVS Pharmacy, Petco, Five Guys, Sleep Number and Chipotle.
Located at 330-350 Grasmere Ave., King’s Crossing is positioned on 10.5 acres of land. Situated 50 miles from New York City, the shopping center is located near Rte. 1 and Interstate 95.
JLL marketed the property on behalf of an institutional seller and closed the sale.
The JLL capital markets team representing the seller was led by Jose Cruz, Kevin O’Hearn, Danny Finkle, Michael Oliver, Steve Simonelli, Andrew Scandalios and Grace Braverman.
“We’re thrilled to have worked with notable institutional firms such as the seller and TA Realty on the sale of this prestigious asset,” says O’Hearn. “With Whole Foods as its anchor and a national tenant roster, King’s Crossing is a premier retail property in this region. We had a tremendous response from investors and expect the buyer to do very well with it.”