Jordan Lane Shopping Center_Property for Sale

1396 Berlin Turnpike, Wethersfield, CT, 06109-1093, US

Jordan Lane Shopping Center

Asset Description

JLL Capital Markets is pleased to offer for sale Jordan Lane Shopping Center, a ±174,679 square foot Stop & Shop anchored shopping center located three miles from Connecticut’s state capital, Hartford. Stop & Shop has been serving the community for over 30 years and recently extended their lease through 2030. The shopping center is 93% leased to a strategic mix of nationally recognized credit tenants and longstanding local retailers in a lineup that includes Stop & Shop, Dollar Tree, Crunch Fitness and Shoppers World. The property has seen exceptional leasing velocity over the last 24 months, with the execution of nearly 40,000 SF of new leases. Jordan Lane offers additional upside via the lease up of an additional +/- 12,000 SF of remaining vacancy. Jordan Lane Shopping Center will appeal to investors seeking a stable supermarket anchored shopping center with a strong credit profile, tenured and thriving tenants, and the potential to create future value through lease up.

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Attributes

Building area Gross

174,679 sf

Occupancy

93.00%

Year built

1968

Land area Gross

21.25 acres (925,650 sf)

Media

Investment Highlights

±174,679 SF shopping center anchored by a strong performing Stop & Shop Supermarket with a 30-year operating history and a recently extended lease through 2030

Excellent retail location serving the densely populated greater Hartford region - nearly 112,000 people living within three miles of the property

Leasing momentum and tenant demand confirms strength of the property - Over 112,000 SF of new leases and new renewals signed in the last 24 months

Strong synergies between property's leading tenants - Stop & Shop, Shoppers World, Crunch Fitness and Dollar Tree

Value add opportunity through the lease up of 12,000 SF of existing vacancy

Long-term development opportunities via new pad sites