Newmark arranged the sale of Brookside Center, a grocery-anchored shopping center located in Bridgeport, CT for an undisclosed sum. Managing director Paul Penman of Newmark’s Boston Capital Markets Group’s retail practice represented the seller and procured the buyer, DLC Management. Co-head of U.S. Capital Markets Robert Griffin and managing director Jon Martin provided additional support to complete this transaction successfully.
Brookside Center is prominently situated at a signalized intersection off Merritt Parkway – a major regional thoroughfare spanning southwestern Connecticut that connects to New York state – and totals 170,665 square feet with 95% occupancy from its diverse 13-tenant roster anchored by Stop & Shop, Marshalls Michaels and Petco stores respectively.
Commenting on this acquisition deal Paul Penman said “We are witnessing deep private equity interest towards investing in grocery-anchored real estate coupled with lenders providing debt financing which makes it easier for our clients to find receptive capital markets environment for high quality offerings”
