Marcus & Millichap finalized the sale of Olde Canal Plaza, a 34,194-square-foot retail center in the Hartford-area community of Plainville, CT for $5,245,750. The buyer was a private investor based in New York.
“Located on more than three acres, Olde Canal Plaza is a core neighborhood center totaling 34,194 square feet of small-bay retail, office and medical office space with a diverse tenant mix,” said Mark Krantz, senior director investments. “The property is positioned along a highly visible corridor with traffic counts exceeding 11,000 vehicles per day in the heart of Central Connecticut.”
Krantz and Marcus & Millichap’s Derrick Dougherty, in association with John Krueger, the firm’s broker of record in Connecticut, procured the buyer. The seller was represented by Frank Amodio and Eric Amodio of Amodio & Co. Real Estate.
Built in 1987, Olde Canal Plaza is located at 17 Farmington Ave. and is 93% leased. The property is situated near a concentration of national retailers, including Kohl’s, Lowe’s Home Improvement and Big Y Supermarket.
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