Lowe’s-anchored retail center sells for $20.25M

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.

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Managing Director Nat Heald and Senior Managing Director Chris Angelone.

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.

For more news, videos and research resources on JLL, please visit our newsroom.