Author Archive: clangan

New England Retail Properties, Inc. is proud to present the opportunity to acquire 790-800 North Colony Rd, a 4.385 acre, multi-tenant property located on Route-5 in Wallingford, CT. The property consists of two freestanding buildings that are 100% leased with long term NN leases, renewal options and rental increases. The Tractor Supply Co. building (built in 2018) consists of 19,097 SF with a 15,000 SF outdoor display area. The Priority Urgent Care building (built in 2023) consists of 3,000 SF.

WEST HARTFORD — The former CVS in West Hartford Center has sold to Market Hospitality Group for $5.25 million and will be turned into an “upscale” restaurant. The announcement of the sale by New England Retail Properties comes a year after the pharmacy closed.

CVS announced it was closing the store last year, saying that factors for the closure included “local market dynamics, population shifts, a community’s store density, and ensuring there are other geographic access points to meet the needs of the community.”

The buyer of the 9,100-square-foot property at 978 Farmington Ave. is described as “a leading operator of upscale dining establishments throughout the Northeast,” already operates eight “unique dining concepts,” including Mercato, Blu Pointe, Beso Taco Bar, and Market Place, which already has Connecticut locations.

The release didn’t state whether the CVS would become one of the restaurant’s [...]

Staples Plaza is a well-positioned retail center located along the highly trafficked Route-5/North Colony Road, one of Wallingford’s busiest commercial corridors. This vibrant shopping center is anchored by Staples, providing steady traffic and excellent visibility to local businesses. The plaza benefits from high daily traffic counts, with over 15,000 vehicles passing by daily, making it a prime location for retailers looking to tap into a thriving consumer base.

MANCHESTER — The former Outback Steakhouse on Hale Road in Manchester has sat vacant since the restaurant closed four years ago, with the property owners hoping to sell or lease the land to a new business.

Manchester is not the only town to grapple with Bloomin’ Brands shrinking its presence in Connecticut, with restaurants in Enfield and Danbury closing in recent years.

Matt Halprin, principal of property owner and brokerage company New England Retail Properties, said the 3.5-acre parcel at 170 Hale Road was owned by Melville Corporation, the former parent company of brands like Bob’s Stores, CVS, and Marshalls.

He said the then-empty property was sold to an Outback Steakhouse franchisee in 1994 as the brand continued its New England expansion.

Halprin said the franchisee later sold the business to Outback Steakhouse corporate, leasing the property to the company while it [...]