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August 5, 2024

Branford’s Lockworks Square plaza under new ownership after sale

Costar The Lockworks Square plaza in Branford
By Hanna Snyder Gambini

A historic Branford commercial plaza that is home to retail stores, medical offices and restaurants has been sold for more than $7 million.

The Lockworks Square Plaza at 1180-1236 Main St., has 35,600 square feet of space in the downtown Branford business district.

It was sold by Lockworks Square LP to 155 New Road Madison LLC and Horton Group LLC for $7.25 million in a deal recorded July 29.

The plaza is fully leased with 15 tenants including Craveable Hospital Group, operating as Saltbrick Prime steakhouse and Lockworks Tavern, both of which opened last month. 

Also in the plaza are Eye Physicians and Surgeons, Physical Therapy & Sports Medicine Centers, Digestive Disease Associates, and Bailey Scarano CPA. The plaza has parking for 135 vehicles.

Matt Horton, vice president of the Horton Group, said the buyers were “highly motivated” to purchase this property based on the portfolio’s location in downtown Branford, its diverse tenant mix of strong and reputable local companies, and the attractive growth dynamics of Branford. 

The plaza was home to a lock factory that dates back to the 1800s. It was at one time the town’s largest employer of more than 500 workers. 

New owners plan to make capital enhancements geared mostly toward the site’s image and visibility in the near term, but specific improvements are unknown as of now, Horton said.


 

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