**Sterling Organization Acquires Grocery-Anchored Bristol Plaza for $44.4 Million**
JLL Capital Markets has successfully secured the $44.4 million sale of Bristol Plaza, a 263,829-square-foot grocery-anchored shopping center located in Bristol, Connecticut, a suburb of Hartford. JLL represented the seller, Federal Realty Investment Trust, in the transaction. The buyer was Sterling Organization.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Chris Angelone, Directors Zach Nitsche and Alex Quinn, and Associate Sam Wiesman. Financing assistance was provided by Managing Director Henry Schaffer.
“Bristol Plaza represented a unique opportunity to acquire a performing grocery-anchored retail center with a dominant anchor,” said Angelone. “The property’s strong credit tenant lineup and strategic location in Bristol’s primary retail corridor made it highly attractive to investors and led to a competitive marketing process.”
Located at 641 Farmington Avenue, Bristol Plaza is currently 93.1% leased. It is anchored by Stop & Shop, a leading regional supermarket, alongside a mix of major national retailers including T.J. Maxx, Burlington, Five Below, Dollar Tree, and Starbucks.
