First National Realty Partners Acquires First Grocery-Anchored Center in Connecticut

We are pleased to announce the acquisitions of Sand Hill Plaza. Located at 228 South Main Street, Sand Hill Plaza is anchored by a 61,450-square-foot Stop & Shop grocery store. A subsidiary of global grocery operator Ahold Delhaize, Stop & Shop has been a Sand Hill Plaza tenant since the center opened in 1990; it has virtually no competition within a three-mile radius. Sand Hill Plaza’s high-quality tenant roster also includes T.J.Maxx, Mattress Firm, Verizon, Great Clips, and Quest Diagnostics.

“Sand Hill Plaza offered an outstanding opportunity for FNRP to establish a presence in Connecticut,” said Matt Annibale, senior director of acquisitions. “With a highly affluent demographic, and proximity to New York City and the Fairfield County Gold Coast, Newtown is a perfect fit for our portfolio. And the approximately 36,800 square feet of available space at the center provides significant upside potential by way of increased occupancy and cash flow.”

Sand Hill Plaza sits in a densely populated retail corridor approximately 30 miles northwest of downtown New Haven, along the region’s dominant north-south thoroughfare. The center serves a growing population of more than 42,000 – with an average household income of $164,000 – within a five-mile radius of the property.

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