The Stop & Shop property at Simsbury Commons has sold for $17.3 million to an affiliate of a publicly traded real estate investment trust.
The buyer, MDC Coast 17 LLC, is controlled by Realty Income Corp., which invests in freestanding, single-tenant commercial properties in the U.S. and Europe, according to its website.
The 64,948-square-foot Simsbury grocery store is leased to Stop & Shop under a long-term agreement. The retailer recently renewed its lease and invested in improvements to the store, according to commercial real estate firm CBRE, which brokered the deal.
The seller was Primex Capital, according to CBRE.
The property is part of Simsbury Commons, a shopping center along the Route 44 retail corridor that also includes Walgreens, Raising Cane’s and Apple Cinemas. Those properties were not included in the sale.
CBRE brokers Jeffrey Dunne, David Gavin and Travis Langer represented the seller and procured the buyer.
