Regency Centers has acquired a 76,368-square foot shopping center in Westport, CT from an undisclosed buyer. The CVS-anchored center, called Comp Shopping Center, traded for $45.5 million.
Matthews Real Estate Investment Services represented the seller in the asset's disposition,
This is the first time the center has traded since opening. Prior to the sale, the property was family-owned for three generations. The buildings boast a 91.65% occupancy rate.
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"Compo Shopping Center has been a highly sought-after investment for decades, and Regency emerged as the successful bidder in early February," said Matthews' Joanna R. Manfro, who handled the transaction. "It was gratifying to help secure the right buyer through a competitive process, ensuring the property received market value," Manfro said.
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