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February 11, 2025

Retail portion of downtown Storrs mixed-use development sells for $40.2M

COSTAR 1 Royce Circle, Storrs
By Michael Puffer

A roughly 124,000-square-foot collection of retail properties in the downtown “Storrs Center” mixed-use development near the University of Connecticut’s main campus has sold for $40.25 million.

The commercial condos had been previously carved off, for separate ownership, from hundreds of apartments in the $220 million Storrs Center development. That development was completed in phases over several years leading up to 2017.  

In a deed recorded Jan. 23, SCT Storrs Center I LLC sold several retail and commercial portions of that development to 1266 Storrs Road LLC for $40.25 million. The seller is tied to the Connecticut state pension fund, according to town sources. The buyer’s principal is Delaware Life Insurance Co., according to state records.

The sold property includes a grocery-anchored plaza at 1206-1220 Storrs Road, along with commercial condo portions of 1,9 and 11 Dog Road, as well as 1 and 8 Royce Circle. The buildings and commercial spaces tally to 124,416 square feet, according to town assessing records.

The properties currently host a Price Chopper supermarket, Barnes & Noble bookstore, Starbucks, automotive shop, restaurants, healthcare offices and more.

Mansfield Town Manager Ryan J. Aylesworth, in a Jan. 27 update to his Town Council, noted the town had just received word that the Connecticut state pension fund had sold the Storrs Centers “commercial/retail” properties, netting $100,625 in conveyance tax for the town.

Aylesworth wrote that town officials, senior UConn leaders and the Mansfield Downtown Partnership “look forward to meeting the new owners in the near future and learning about their vision for the future.”

The selling LLC listed in the Jan. 23 deed is tied to Artemis Real Estate Partners LLC.  On its website, Artemis describes itself as an investment manager that has invested about $16 billion in the purchase of more than 350 properties. Kerry Kartsonis, a senior vice president with Artemis, signed the deed.

The buyer, 1266 Storrs Road LLC, lists a Boston address on the deed. In its state business filing, created Dec. 20, 1266 Storrs Road LLC lists Indiana-based Delaware Life Insurance Co. as its principal.

Attempts to reach a Delaware Life Insurance representative were not immediately successful. 

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