Trio Fund 1 CT Portfolio Takes On Six Smithland Supply Locations in Connecticut for $11MLisa McDuffie, ConnectCRE
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.