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Simsbury retail center acquired for $46.5M

A Simsbury shopping center anchored by a Stop & Shop supermarket has been sold for $46.5 million.

New York-based real estate firm PAG Investments says it recently acquired the Simsbury Commons retail center from EDENS, a national retail real estate owner.

The retail complex spans over 256,804 square feet at 530 Bushy Hill Road and is home to Bob’s Stores, Apple Cinemas, Bed Bath & Beyond, HomeGoods and Walgreens. Other tenants include Zoo Health Club, GNC, Webster Bank and Santander, among others.

A 64,948-square-foot Stop & Shop store on-site was renovated in the last year or so as part of the grocery retailer’s $70-million plan to modernize 21 Hartford region stores.

“Simsbury Commons is situated in a high-growth demographic area, and has a history of long-term tenancy,” said PAG Principal Gershon Alexander.

The deal marks PAG’s second investment in Connecticut. PAG owns and operates the Orange Plaza shopping mall, which the firm acquired last year for more than $16.2 million, land records show.

The majority of PAG’s portfolio is located in New York and New Jersey.

Newark Knight Financial represented both PAG and EDENS in the Simsbury Commons deal.

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