Phillips Edison Snaps Up Grocery-Anchored Center in Fairfield County

Nat Heald, Jeffrey Dunne and David Gavin of CBRE’s National Retail Partners represented DRA Advisors and KPR Centers in the sale of Bethel Shopping Center at 83 Stony Hill Rd. in Bethel, CT. CBRE also procured the buyer, Phillips Edison & Company. Terms of the sale were not disclosed.

Located in an affluent Fairfield County market, Bethel Shopping Center is a 101,105-square-foot, 91% leased center anchored by Big Y Supermarket, Starbucks and Dollar Tree. Its tenant roster also includes Great Clips, Quest Diagnostics and Casa Tequila.

In a statement, CBRE’s National Retail Partners said, “The center’s attractive rent roll, strong grocery anchor and long-term leases provide highly stable income with further upside opportunity through lease-up of the well-positioned pad along Route 6. We continue to see tremendous demand for grocery-anchored properties across the country, with limited supply to meet the magnitude of current investor demand.”

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