{"id":1004205003,"date":"2018-01-26T03:54:34","date_gmt":"2018-01-26T11:54:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004205003"},"modified":"2022-12-09T01:57:50","modified_gmt":"2022-12-09T09:57:50","slug":"cbre-closes-sale-of-51-ksf-retail-asset-in-ct","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-closes-sale-of-51-ksf-retail-asset-in-ct\/","title":{"rendered":"CBRE Closes Sale of 51 KSF Retail Asset in CT"},"content":{"rendered":"<p>by Beata Lorincz<\/p>\n<div id=\"attachment_1004205004\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1365-Post-Road-East-Westport-Conn..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004205004\" data-attachment-id=\"1004205004\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-closes-sale-of-51-ksf-retail-asset-in-ct\/1365-post-road-east-westport-conn\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1365-Post-Road-East-Westport-Conn.-e1516959314675.jpg\" data-orig-size=\"979,735\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Beata Lorincz&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1516958263&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1365 Post Road East, Westport, Conn.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1365 Post Road East, Westport, Conn.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1365-Post-Road-East-Westport-Conn.-e1516959314675.jpg?w=979\" class=\"wp-image-1004205004 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1365-Post-Road-East-Westport-Conn.-e1516959314675.jpg\" alt=\"1365 Post Road East, Westport, Conn.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1365-Post-Road-East-Westport-Conn.-e1516959314675.jpg 979w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1365-Post-Road-East-Westport-Conn.-e1516959314675.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1365-Post-Road-East-Westport-Conn.-e1516959314675.jpg?resize=768,577 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004205004\" class=\"wp-caption-text\">1365 Post Road E., Westport, Conn.<\/p><\/div>\n<p>CapFor Westport LLC, an entity managed by Forstone Capital, has sold 1365 Post Road E, a grocery-anchored\u00a0retail property in Westport, Conn. CBRE represented the seller and procured the buyer.<\/p>\n<p>The 50,795-square-foot\u00a0asset is located on Route 1, along the main retail corridor connecting Westport to Fairfield, within a seven-minute ride away from both town centers. The site is exposed to an average of 22,100 cars per day.<\/p>\n<p>Currently 95 percent leased, the asset is anchored by Balducci\u2019s, while Ulta is in the process of settling in and expected to open in March. Other tenants include Tusk Home, W Hair &amp; Color, Zaniac and Awareness Technologies, together ensuring an average remaining lease term of more than nine years.<\/p>\n<p>CBRE National Retail Partners&#8217; Jeffrey Dunne, <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-announces-three-promotions\/\">David Gavin<\/a> and Travis Langer worked on behalf of the buyer.<\/p>\n<p><em>\u201c(The property) provided a rare opportunity to purchase a grocery-anchored center in the highly site-constrained and prestigious Westport market. We expect the purchaser will fare well with the acquisition due to its strong rent roll, easily accessible Route 1 location and surrounding demographics that support high sales volumes,\u201d<\/em> said Dunne, in prepared remarks.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 50,800-square-foot grocery-anchored property is located halfway between Westport and Fairfield town centers and is currently 95 percent leased.<\/p>\n","protected":false},"author":739,"featured_media":1004507584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,10,21749],"tags":[32789,38950,33939],"class_list":["post-1004205003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-northeast","category-retail","tag-cbre","tag-forstone-capital","tag-jeffrey-dunne"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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