Lowe’s-anchored retail center sells for $20.25M
JLL Capital Markets arranges the sale of the property with a diverse internet-resistant tenancy
BOSTON, Oct. 19, 2021 – JLL Capital Markets announced today that it has closed the $20.25 million sale of Lowe’s Plaza, a fully leased, 160,000-square-foot retail center anchored by Lowe’s Home Improvement in Wallingford, Connecticut.
JLL represented the seller, Davenport Companies.
Situated on 26.45 acres at 1094 N. Colony Rd. (Route 5), Lowe’s Plaza has visibility from more than 26,000 vehicles per day along Route 5, one of the main thoroughfares in Wallingford, and is approximately 20 minutes north of downtown New Haven. The nearest Lowe’s is more than 10 miles from the property, allowing it to pull from an extended trade area that includes more than 111,800 residents with an average annual household income exceeding $92,000.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.