Shopping Neighborhood
Killingly Plaza (Kohl’s Anchored)
1050 N Main St, Dayville, CT 06241
Listing Price: $7,300,000
Investment Overview
Killingly Plaza is a 76,960-square-foot community shopping center, anchored by Kohl’s, in 55,068 square feet with approximately 9.5 years remaining on its lease. It is currently 98.7 percent leased to nine tenants, with a noteworthy 83 percent being national credit tenants who contribute to the service-oriented needs of the local community. There is one available unit within the plaza, offering a space of 990 square feet for potential occupancy.
The property is situated in the village of Dayville, within the town of Killingly, in Windham County, Connecticut. It benefits from its strategic location within the larger Killingly area and close proximity to Interstate 395.
The strong, service-oriented tenancy and high occupancy with a weighted average lease term of 7.4 years offers an investor a stable asset providing steady income stream.
Killingly Plaza (Kohl’s Anchored)
Investment Highlights
- Strong Tenancy: 88% of the property leased to nationally recognized, credit-worthy tenants.
- Long Lease Term: Average WALT of 7.4 years, with almost 10 years remaining on Kohl's lease, providing stability and a steady income stream.
- High Occupancy: Currently, the center is operating at a 98.7% occupancy rate, minimizing vacancy risk.
- Tenant Loyalty: Approximately 89% of the tenants have been part of the center for a decade or more, demonstrating their commitment to the location and its performance.
- Market Suitability: The tenant lineup is well-tailored to the local market, ensuring they effectively meet the needs of the community and contribute to the center's success.
- Economic Growth: Frito-Lay, Inc., the second largest employer in Windham County, is in the process of expanding its manufacturing site in town. The estimated $235 million project is expected to create 120 new jobs and to be completed in the second quarter of 2024.
Listing Price: $7,300,000
Investment Highlights
- Strong Tenancy: 88% of the property leased to nationally recognized, credit-worthy tenants.
- Long Lease Term: Average WALT of 7.4 years, with almost 10 years remaining on Kohl's lease, providing stability and a steady income stream.
- High Occupancy: Currently, the center is operating at a 98.7% occupancy rate, minimizing vacancy risk.
- Tenant Loyalty: Approximately 89% of the tenants have been part of the center for a decade or more, demonstrating their commitment to the location and its performance.
- Market Suitability: The tenant lineup is well-tailored to the local market, ensuring they effectively meet the needs of the community and contribute to the center's success.
- Economic Growth: Frito-Lay, Inc., the second largest employer in Windham County, is in the process of expanding its manufacturing site in town. The estimated $235 million project is expected to create 120 new jobs and to be completed in the second quarter of 2024.
Investment Overview
Killingly Plaza is a 76,960-square-foot community shopping center, anchored by Kohl’s, in 55,068 square feet with approximately 9.5 years remaining on its lease. It is currently 98.7 percent leased to nine tenants, with a noteworthy 83 percent being national credit tenants who contribute to the service-oriented needs of the local community. There is one available unit within the plaza, offering a space of 990 square feet for potential occupancy. The property is situated in the village of Dayville, within the town of Killingly, in Windham County, Connecticut. It benefits from its strategic location within the larger Killingly area and close proximity to Interstate 395. The strong, service-oriented tenancy and high occupancy with a weighted average lease term of 7.4 years offers an investor a stable asset providing steady income stream.
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