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September 6, 2024

Guilford Commons plaza sells for $26.5M

Costar The Guilford Commons plaza, Boston Post Road, Guilford.
By Hanna Snyder Gambini

A four-building Guilford plaza anchored by a grocery store has been sold for more than $26 million.

The Guilford Commons portfolio, which contains retail buildings along the busy Boston Post Road commercial stretch, was sold by DDR Guilford LLC, an affiliate of Ohio-based SITE Centers, to HRP LLC and Haverford Retail Partners of Pennsylvania for $26.5 million in a deal recorded in late August.

The properties include two retail strips at 1919 Boston Post Road; one containing 63,100 square feet of space, which sold for $13 million, and another 48,700-square-foot retail strip that sold for $9.8 million.

A 12,000-square-foot building at 1900 Boston Post Road sold for $2.6 million. Those three properties were built in 2015. 

A 6,200-square-foot building at 1960 Boston Post Road, built in 2019, sold for $1 million.

The shopping center, set on 27.8 acres, has a total of 129,252 square feet of retail space and is anchored by The Fresh Market, with Ulta, DSW, Michael’s, TJ Maxx, and Old Navy as junior anchors. 

Haverford Retail Partners principal Joseph Staugaard said this property was attractive as an investment due to “its balanced merchandising mix, strong demographics in the trade area, and our ability to acquire it well below replacement cost.”

The property has a total appraised value of $29.45 million, according to town property records.
 

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