Big Y Foods Acquires Connecticut Retail Asset
Newmark arranged the sale of Crossroads Plaza.
Crossroads Plaza
Big Y Foods has acquired Crossroads Plaza, a 112,920-square-foot, grocery-anchored retail center in West Hartford, Conn. The seller was Edens, as shown by CommercialEdge data. The asset changed hands for $22.4 million, according to Hartford Business. Newmark brokered the transaction. The same data provider shows the property previously traded in 2002 for $9.7 million.
Built in 1956, Crossroads Plaza spans 8.4 acres. A Big Y supermarket, which has been operating at the location since November 2010, anchors the property. Other tenants include service-oriented retailers and local restaurants, The UPS Store and a Webster Bank drive-through, among others.
The shopping center is at 714 N. Main St., in a retail cluster located roughly 5 miles from downtown Hartford. More than 215,000 people live within a 5-mile radius.
Newmark Vice Chairman Geoffrey Millerd, together with Managing Director Mathew Adler, negotiated on behalf of Edens. Senior Financial Analyst Casey O’Brien helped the team with financial analysis support.
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