A Chicago realty investor paid $17.5 million for a portion of the Newington Fair Shopping Center on Berlin Turnpike that houses Sam’s Wholesale Club and L.A. Fitness.
Inland Real Estate bought the 187,000-square-foot portion of center at 3475-3563 Berlin Turnpike, in the shadow of Stew Leonard’s Supermarkets and Toys ‘R’ Us. Those two store sites weren’t part of the sale.
According to online records, Realm Realty of Houston sold part of the so-called “power center” developed in 2008.
Although fully leased, the Newington Fair can accommodate an outparcel of 6,500 square feet for a new retailer, authorities said.
Inland said an estimated 70,000 people live within three miles of Newington Fair, and that some 38,000 vehicles daily pass on Berlin Turnpike.
Cohen Real Estate of New York brokered the sale for buyer and seller.
