A Marshalls department store will open in Winsted’s Shops at Ledgebrook plaza next year following the property’s recent $14 million sale to a New Jersey retail property investor.
The 13.79-acre property at 200 Hartford Road includes a 35-year-old, 103,025-square-foot retail building with room for 20 tenants, as well as a 3,600-square-foot building hosting a Webster Bank branch.
New Jersey-based Heidenberg Properties Group purchased the Winsted property from Gladstone Development Corp., based in Purchase, New York, in a deed recorded on Dec. 16. A limited liability company affiliated with Gladstone paid $15.3 million for the property in 2011.
Robert Heidenberg, CEO of Heidenberg Properties, said the Stop & Shop that anchors the plaza is a major draw for the area. His company has a “good relationship” with Marshalls’ parent company and so was able to secure its interest in the Winsted location before Heidenberg closed on the property.
Marshalls will occupy about 23,000 square feet of currently vacant space, Heidenberg said.
Renovation of the space will begin in March and the new store is expected to open in September, he said. That will leave about 10,000 square feet available in the plaza. Heidenberg said his company is seeking to install “really high-quality tenants.”
Heidenberg said his company owns about 3 million square feet of retail space in 14 grocery-anchored shopping plazas “from Vermont to Virginia.”
“Coming out of the pandemic, it is unequivocal that people want to shop in brick-and-mortar,” Heidenberg said. “They want to touch the tomatoes and try on the shoes.”
Heidenberg said the Winsted property is in “mostly good shape.” There will be some repairs to the parking lot and, likely, a new pylon sign, he said. There is room for a roughly 3,000-square-foot freestanding, retail building, which Heidenberg is considering building out.
Kodi Traver and Joseph C. French of Marcus & Millichap brokered the sale.
