July 27, 2012

N. Britain retail center sells for $2.1M

CONTRIBUTED PHOTO
CONTRIBUTED PHOTO
The new owner of Central Square Plaza, 1517-1535 Stanley St., in New Britain is sprucing up the center.

A New Britain neighborhood retail center conveniently adjacent to Central Connecticut State University has sold for $2.1 million to West Hartford landlord Levy Properties LLC.

The 20,000-square-foot Central Square Plaza, 1517-1535 Stanley St., is comprised of three separate buildings that are home to eight retail tenants, including a convenience store, Domino's Pizza, Dunkin Donuts, Subway, and services such as a barber shop and a tattoo/piercing parlor.

Classic Realty of Hartford was the seller, Evan Levy, principal in Levy Properties, said Friday.

Near term, the new owner has begun cleaning and beautifying the exterior. Long term, the priority is filling about 2,000 square feet of vacancy, including 1,000 square feet of upper-floor office space in one of the buildings, Levy said.

"It has such a dedicated population with more than 15,000 students just a stone's throw away,'' he said.

Levy Properties also owns seven more community-retail centers in Bloomfield, Farmington, Hartford, the Danielson section of Killingly and Manchester.

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