Singapore-based investor pays $21.4M for grocery-anchored shopping center in Wallingford
Already a Subscriber? Log in
Get Instant Access to This Article
Subscribe to Hartford Business Journal and get immediate access to all of our subscriber-only content and much more.
- Critical Hartford and Connecticut business news updated daily.
- Immediate access to all subscriber-only content on our website.
- Bi-weekly print or digital editions of our award-winning publication.
- Special bonus issues like the Hartford Book of Lists.
- Exclusive ticket prize draws for our in-person events.
Click here to purchase a paywall bypass link for this article.
An affiliate of a Singapore-based real estate investment group recently paid $21.4 million for a collection of three adjacent Wallingford properties hosting a ShopRite supermarket plaza, shopping center and a self-storage facility.
The buyer was United Hampshire US REIT, a Singapore-based real estate investment trust focused on grocery-anchored retail properties and self-storage facilities in the U.S. United Hampshire announced the purchase of the “Wallingford Fair Shopping Center,” touting its entry into the Connecticut market.
The 11.45-acre portfolio — at 846, 848 and 850-852 N. Colony Road — was sold by a limited liability company affiliated with Westbury, New York-based real estate investor The Kalikow Group, according to a deed recorded Jan. 20.
United Hampshire said the acquisition increased its portfolio to 23 properties across nine East Coast states.
“Wallingford Fair is a strongly performing freehold grocery-anchored property with 100% occupancy and a long WALE (average remaining lease term) of 12.8 years,” United Hampshire CEO Gerard Yuen said.
United Hampshire said Wallingford Fair is a 115,223-square-foot retail property in a densely developed and well-traveled commercial corridor. Assessor records date the buildings on the property to 1998.
According to town records, the sale included:
- A 59,672-square-foot supermarket on 6.6 acres at 846 N. Colony Road.
- A 14,938-square-foot shopping center on 2.5 acres at 848 N. Colony Road.
- A 35,385-square-foot, 604-unit self-storage facility on 2.4 acres at 850-852 N. Colony Road.
