A 96,691-square-foot commercial property at the West Hartford-Farmington line across from Westfarms mall has sold for $26.4 million, real estate investment firm CBRE announced Wednesday.
The buyer, Agree Realty, owns commercial properties across the country, including plazas anchored by Walmart, Aldi and Best Buy. Its Connecticut holdings include properties with Autozone stores in Orange and Danbury, and a property with an AAMCO auto repair shop in Orange.
The shopping plaza, called Newington Westfarms Center, is fully leased and houses Dick’s Sporting Goods and Ulta Beauty on a square-shaped parcel facing New Britain Avenue. Dick’s and Ulta signed new long-term leases in 2020.
Ultra Beauty replaced Babies R Us in 2019.
DSW shoe warehouse and a FedEx shipping center are in an adjacent building, set behind a Sleep Number store, which is also part of the retail center. DSW and FedEx have been leasing space in the plaza for more than eight years, according to CBRE.
The retail center is visible from New Britain Avenue and has a traffic light at the main entrance.
The sale was brokered by CBRE’s Jeffrey Dunne, David Gavin and Peter Furest, along with Don Cafero of JLL, who represented the owner, Tartaglia Commercial Properties.
Gavin said CBRE is continuing to see strong demand for retail centers such as Newington Westfarms Center, which “provide cash flow stability and a highly attractive rent roll.”
Tartaglia Commercial Properties owns Clocktower Shopping Center in Monroe, Waterbury Shopping Center at 835 Wolcott St., and Cheshire Shopping Center on South Main Street.