Marcus & Millichap Oversees $19.2M Sale Of Manchester Parkade Retail Center In Manchester, CT
346 Middle Turnpike West & 422 Middle Turnpike West
$19,200,000
$31/SF
Building Size
604,000 SF
Asset Type
Retail
Closing
Dec 21, 2023
AI
Alex Quinn & James Koury of Marcus & Millichap facilitated the $19.2 million sale of Manchester Parkade, a retail property located at 346-422 Middle Turnpike West in Manchester, CT. The property spans 302,000 square feet and is home to a variety of tenants, including Stop and Shop grocery store, Dollar Tree, Planet Fitness, and the State of Connecticut Department of Children’s Services. The sale price equates to a price per square foot of $64.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $19,200,000
- Square Footage: 302,000
- Address: 346-422 Middle Turnpike West, Manchester, CT
- Market: Manchester, CT
The sale was overseen by Alex Quinn & James Koury from Marcus & Millichap, who represented the buyer and seller in the transaction. They successfully facilitated the deal for Manchester Parkade, bringing together the various parties involved in the sale.
Players
Manchester 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93