Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Groton Square, a 196,802-square-foot, grocery-anchored shopping center in Groton, Connecticut.
“Groton Square is anchored by the No. 1-ranked Kohl’s and the No. 2 Stop & Shop within 30 miles,” said Jim Koury, IPA senior managing director. “The tenants have anchored the center for 22 and 35 years, respectively.” Koury both represented the seller and procured the buyer.
Groton Square is located on Connecticut Route 12, with accessibility from Interstate 95 and State Route 184. The Naval Submarine Base in New London is two miles away and the University of Connecticut Avery Point is nearby. Major employers in Groton include Pfizer, General Dynamics Electric Boat, and Mystic Marriott Hotel & Spa.
Groton Square’s tenants also include Panera, Xfinity, PhysicianOne Urgent Care, CosmoProf, Verizon and Moe’s Southwest Grill.
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com