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Marcus & Millichap Arranges Sale Of Centennial Plaza

July 22, 2021

MERIDEN, CT, July 22, 2021 – 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 Centennial Plaza, a 158,792-square foot retail property located in Meriden, CT, according to John Krueger, regional manager of the firm’s Westchester office. The asset sold for $5,200,000.

Joseph French Jr. and Kodi Traver, investment specialists in Marcus & Millichap’s Westchester office, had the exclusive listing to market the property on behalf of the seller, Centennial Main, LLC. The buyer, DealPoint Merrill, was secured and represented by Joseph French Jr. and Kodi Traver.

John Krueger, Broker of Record of the Westchester office, assisted in closing this transaction. French comments, “It was a difficult assignment to sell a shopping center with a supermarket lease expiring in one year, the supermarket also indicted they will not renew, leaving our owner looking for a solution as he was in fear of losing the rest of his tenants when the store closed. We were able to identify a secondary use for the supermarket space who has successfully acquired the property and was able to retain the additional tenants.”

Centennial Plaza is located at 560-566 W Main St in Meriden, CT. The store contains 70,000 square feet of vacant box buyer was planning on occupying and supermarket when lease expired.

 

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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