January 30, 2020
SOLD – UNIVERSITY PLAZA SHOPPING CENTER – WILLIMANTIC, CONNECTICUT
J.H. Winokur, Inc. is pleased to announce the closing of the sale of University Plaza shopping center located in Willimantic, Connecticut.
The fully-leased 51,270 square foot shopping center was completely re-developed in 2018 with a new facade, roof and HVAC.
The property prominently sits above the road, on Main Street, at a signalized retail location and faces Windham Hospital. As part of the redevelopment, Dollar Tree and EbLens relocated to the site and signed new 10-year leases. Planet Fitness (16 year lease), Moe’s Southwest (10 year lease), Berkshire Bank (10 year lease), and Access Community (10-year lease) also signed long-term leases. AT&T Wireless and Fish Market are the out-parcels to this 100% leased property. The property is located next to the area’s dominant grocery store, a Stop & Shop. The site is within minutes to Eastern Connecticut State University and the main campus of the University of Connecticut. The site benefits from the $91,025 average-household income area and minimal nearby retail competition in the surrounding towns.
J.H. Winokur represented the seller of the property, a development company that purchased the property, which was mostly vacant, and redeveloped the site. The buyer is a private investor.
For more information contact Jason Winokur.
