NEW ENGLAND RETAIL PROPERTIES SELLS THE SHOPPES AT OLD SAYBROOK FOR $6,750,000
Matt Halprin, President and Chief Operating Officer of New England Retail Properties, Inc. is pleased to announce the sale of The Shoppes at Old Saybrook located at 901 Boston Post Rd. (Route 1) in Old Saybrook, CT for $6,750,000.
Halprin was the only Broker and represented both the seller and the buyer in the transaction. The seller of the 94,175 square foot regional shopping center on 8.5 acres is Basser Kaufman Saybrook LLC and the buyer is OSJL of Old Saybrook LLC. The Shoppes at Old Saybrook features regional and national tenants including Ocean State Job Lot, Town Fair Tire, Dollar Tree, O’Reilly Auto Parts and Midas Muffler.
About Basser Kaufman
For over 50 years, Basser-Kaufman has developed, leased and managed retail properties of exceptional quality and distinction. Encompassing more than three million square feet of prime retail real estate throughout the Northeast, their portfolio includes 34 neighborhood and community shopping centers spread across five states: New York, New Jersey, Connecticut, Massachusetts and Pennsylvania.
About Ocean State Job Lot
Founded in 1977, Ocean State Job Lot is a growing, privately held discount retail chain with more than 145 stores in New England, New York, New Jersey, and Pennsylvania, approximately 5,600 employees, and annual sales of approximately $720 million. Job Lot sells brand name, first quality merchandise at closeout prices. Shoppers find an ever-changing array of household goods, apparel, pet supplies, seasonal products (holiday, gardening, patio, pool and beach supplies), and kitchen pantry staples at a fraction of their typical price.