August 11, 2014
Deal Watch Today

W. Hartford retail center draws $10M

Submitted photo
Submitted photo

A New Jersey landlord says its $10 million purchase of a West Hartford strip shopping center is its first of more acquisitions in Connecticut and New England.

Lerner Properties LLC, of Englewood Cliffs, N.J. said Monday it bought Boulevard Shops, a 24,600-square-foot center on 1.82 acres at 463 Prospect Ave., at the intersection of Propect, Boulevard and West Boulevard.

HPE Boulevard LLC, an affiliate of Hirschfeld Properties LLC, was the seller.

Holliday Fenoglio Fowler L.P. in Boston brokered the sale.

The shopping center is anchored by CVS, with Santander Bank, United Parcel Service, H&R Block and Sprint among tenants.

The center is 94 percent leased, said Jason Lerner, of Lerner Properties.

"This is our first property in Connecticut," Lerner said, "and we're looking forward to further expanding our portfolio in Connecticut and other states in the New England region as well."

Lerner Properties' retail holdings stretch from Connecticut, New Jersey, New York, Pennsylvania and Michigan.

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