A $5.2 million construction loan has been closed for the 130,000-square-foot redevelopment of a former Shaw’s grocery store in New Britain. It is scheduled for completion this summer.
DealPoint Merrill, a West Coast realty investor, plans to make the idle New Britain supermarket storefront its newest U.S. testbed for satisfying Americans’ growing appetite for extra closets to stash their stuff.
DealPoint Merrill closed its $2 million purchase of the vacant Shaw’s Supermarket building at 1045 West Main St., New Britain, last August.
DealPoint Merrill portfolio manager Roger Burgin said at the time conversions of underused or vacant “big-box” retail sites are climbing nationwide, particularly as the appeal of brick-and-mortar locations yield to the exploding presence of online shopping.
