A joint venture between the Wilder Companies out of Boston and Principal Real Estate Investors has acquired a retail center in Avon, Connecticut for $29 million. The Shops at Nod Brook is a 99,788 sqf shopping center anchored by The Fresh Market, Marshalls and Michaels. Located at 315 West Main, the property is positioned along the main retail corridor (Route 44) in Avon, 10 miles west of Hartford. The deal was financed with a five-year, fixed-rate acquisition loan provided by a global life insurance company that was arranged by Holliday Fenoglio Fowler.
“We are excited to establish this venture with the Wilder Companies,” said Jim Halliwell, Managing Director at Principal. ”They are a cutting edge retail operating company with vast experience in enhancing value through creative merchandising mixes, architectural modifications, and thoughtful re-branding initiatives. We believe their skill sets will serve the Nod Brook property and others well, generating attractive risk adjusted returns for the ownership group and enhancing the shopping experience for the communities we serve.”
