DLC and Acadia Realty Trust have sold Tri-City Plaza, a grocery-anchored retail center in Vernon, CT, for $62.5 million. CBRE’s National Retail Partners team of Jeffrey Dunne, David Gavin and Travis Langer represented the sellers in the transaction and also sourced the buyer, East Coast Acquisitions. The deal involves a large-format retail asset that has seen substantial leasing progress over the past several years.
Tri-City Plaza totals 295,817 square feet and is anchored by ShopRite. The center is positioned directly off Interstate 84, providing regional access for both tenants and shoppers. According to the brokerage team, the property is currently 96% leased, reflecting a high level of occupancy for a grocery-anchored center of this scale. In addition to ShopRite, the tenant roster includes anchors such as TJ Maxx, Home Goods, HomeSense and Hartford Healthcare.
The property benefits from several major access routes, with visibility and connectivity via I-84, Talcottville Road and Hartford Turnpike. It sits within 10 miles of Downtown Hartford, positioning the center to draw from both Vernon and the broader Hartford-area customer base. This regional reach and connectivity, combined with a mix of national and healthcare tenants, supports the center’s role as a dominant retail destination in its trade area.
Commenting on the sale, Dunne noted that Tri-City Plaza attracted significant investor interest. He cited the center’s high-volume grocery anchor, its central position within the local retail market and its diverse, e-commerce-resistant tenant mix as key factors driving demand. The leasing team completed 130,000 square feet of leasing activity at the center over the past five years, which Dunne said underscored the property’s strength and dominance within the market.
The transaction highlights ongoing capital flows into grocery-anchored shopping centers that demonstrate consistent occupancy and leasing momentum. For the buyer, East Coast Acquisitions, Tri-City Plaza offers a stabilized income stream supported by multiple anchors and recent leasing gains. For the sellers, DLC and Acadia Realty Trust, the disposition crystallizes value on a mature, high-occupancy asset within the Hartford-area retail landscape.
