Trident Pacific Real Estate Group Acquires Retail Center In Newington For $16.7M
$16,700,000
$44/SF
Building Size
379,728 SF
Asset Type
Retail
Closing
May 1, 2024
AI
Newington Commons, a 189,864-square-foot retail center located at 172-206 Kitts Lane in Newington, CT, was sold for $16,700,000, equating to a price per square foot of $88.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $16,700,000
- Address: 172-206 Kitts Lane
- Market: Newington, CT
Gregg Williams of Trident Pacific Real Estate Group represented the buyer in the transaction, while Pierre Bonan from Mission Capital Advisors and Joseph French Jr. & Kodi Traver from Marcus & Millichap facilitated the sale on behalf of the seller. The property was secured by a private investor buyer with the assistance of these key individuals.
Players
Market Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.95%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93