Storrs Center, Phase II — Sale in Mansfield, CT

  • Price: $9.9M
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Mansfield, CT 06268
  • Year built: 2015

Photos

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Description

JLL Capital Markets has been retained as the exclusive advisor for the sale of Storrs Center Phase II, a necessity-oriented unanchored retail condominium situated within the heart of Downtown Storrs, immediately adjacent to the University of Connecticut's (UConn) main campus in Mansfield (Storrs), Connecticut. The +/- 34,611 SF Property is 80.3% leased across a collection of four buildings and anchored by three nationally recognized food & beverage brands including Dunkin', Blaze Pizza and a brand new 15 year lease to Chipotle. The remaining tenancy includes a diverse mix of local and regional tenants serving the UConn campus community. The property benefits from its position within a bustling mixed-use town-center environment, fronting Storrs Road (Route 195) with over 15,500 vehicles per day and surrounded by over 600 residential units above and adjacent to the retail. The broader Storrs Center campus is further complemented by anchor uses including a high performing Price Chopper, CVS, UConn Health and JP Morgan Chase Bank, all of which drive consistent daily foot traffic and reinforce the captive demand that serves Phase II's tenants. Storrs Center Phase II offers investors the rare opportunity to acquire a unique and irreplaceable retail asset embedded within UConn’s town-center and the opportunity to create future value through the lease up of the remaining vacancy and a potential component disposition strategy.

Market Context

This retail in Mansfield, CT is listed for sale at $9,900,000. The building dates to 2015. Compare it against other retail listings for sale in Mansfield, CT — view the full market.

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