The 175,000 square foot center at 403-495 Main St. and 75 Tremont St. has struggled with vacancies in recent years.
A retail shopping center in Ansonia has been acquired by Zelco Properties & Development and the Grossman Cos. in a $8.4 million deal.
The 175,000 square foot center at 403-495 Main St. and 75 Tremont St. has struggled with vacancies in recent years.
Until 2019, the shopping center was anchored by a Big Y grocery store.
"The Ansonia market is underserved, and we have a tremendous opportunity to introduce high-quality retail options that residents need," Jake Grossman, co-president of the Grossman Cos., said in an announcement of the deal.
The partnership says it will undertake a comprehensive leasing and redevelopment strategy focused on what it calls daily needs anchors and service-oriented retailers.
The repositioning plan also includes upgrades to the property's infrastructure, including roofs, facades, HVAC systems and parking areas.
The leasing program for Ansonia Shopping Center is being led by Charter Realty, the real estate brokerage and services arm of Zelco Properties.
Charter says the vacancy rate in terms of the square footage of the property is around 71%.
The deal represents the latest in a string of acquisitions by Westport-based Zelco, which last year bought
a shopping center at 110 High Ridge Road in Stamford and another at
90 Halls Road in Old Lyme.
