Author Archive: clangan

NAUGATUCK, CT — A former Bank of America branch in the downtown area of Naugatuck has sold for $1.1 million.

The property, located at 275 Church Street, was sold to the borough of Naugatuck by New England Retail Properties, Inc., according to a news release provided by the brokerage company.

The former bank branch, constructed in 1975, consisted of a freestanding 5,060-square-foot facility on 1.13 acres in downtown Naugatuck.

New England Retail Properties, Inc. president Matt Halprin and associate Ryan Mendez were the exclusive brokers for the sellers, Spelke Family LLC of Stamford. Mayor Pete Hess handled the negotiations for the borough.

LINK TO ARTICLE

Southport, CT-based Trio Fund 1 CT Portfolio, an investment trust specializing in net lease retail investments, has purchased a package of six Smithland Supply retail locations throughout CT for $10.5 million.

Matt Halprin, president and COO of New England Retail Properties, Inc., represented the sellers, Retail Property One, LLC, Retail Property Two LLC, Retail Property Three LLC, and Retail Property Four LLC. The original owners are based in Guilford, CT and operated the Agway Stores for more than 25 years before their interest in the company in 2016.

The free-standing net leased locations were previously operated as AGWAY Stores and operate as Smithland Supply in Bethel, Manchester, Middlefield, North Branford, North Haven and Southington.

LINK TO ARTICLE

Wethersfield, Conn. — New England Retail Properties has arranged the sale of six retail properties in Connecticut net leased to Smithland Supply. Matt Halprin of Wethersfield, Connecticut-based New England Retail represented the sellers — Retail Property One LLC, Retail Property Two LLC, Retail Property Three LLC and Retail Property Four LLC — in the transactions. Previously operated as Agway stores, the freestanding Smithland Supply properties are located in Manchester, Southington, Bethel, North Haven, Middlefield and North Branford, Connecticut. The properties were acquired by Trio Fund I CT Portfolio.

LINK TO ARTICLE

WETHERFIELD, CONN. — Connecticut-based New England Retail Properties has arranged the sale of six single-tenant retail properties located throughout The Constitution State for a combined price of $10.5 million. The properties, all of which are net leased to lawn and pet products retailer Smithland Supply, are located in Manchester, Southington, Bethel, North Haven, Middlefield and North Branford. Matt Halprin of New England Retail Properties represented the sellers in the transactions.

LINK TO ARTICLE