Sale of Neighborhood Retail Center in Central Connecticut
- christopherwiener
- 3 minutes ago
- 2 min read
PLAINVILLE, Conn., Jan 23, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Olde Canal Plaza, a 34,194-square-foot retail center in Plainville, Connecticut for $5,245,750.
“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, a private investor based in New York. 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.
“It was a pleasure guiding a long-time client through a transaction that aligned with their investment objectives. The sale of Olde Canal Plaza underscores our ability to execute client-focused solutions while navigating complex negotiations in today’s commercial real estate market,” added Krantz.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.