Stan Johnson Company Brokers $46.7 Million Sale of Connecticut Grocery Store

Maier-Stop&shop

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a freestanding grocery store located at 1937 West Main Street in Stamford, Connecticut. The 69,733-square-foot supermarket is leased to Stop & Shop, a regional grocer located in the Northeastern U.S. and a wholly owned subsidiary of Ahold Delhaize, one of the world’s largest food retail groups. Jason Maier of Stan Johnson Company represented the seller, a private investor based in New York. The property was acquired for approximately $46.7 million by a Pennsylvania-based institutional investor. Both buyer and seller were involved in 1031 exchanges.

“While cap rates have remained low and stable, interest rates have skyrocketed,” said Maier, Senior Director in Stan Johnson Company’s New York office. “For owners who had previously been unable to defease their loans, once interest rates shot up and the prepayment penalties went down, it created a rare opportunity to finally be able to capitalize on the cap rate price with a reduced prepayment penalty. Our client saw the perfect window to sell this high-quality asset with plans to exchange into a variety of retail and medical assets to diversity their portfolio.”  

The property was originally built in 2006 and is situated on a 7.11-acre corner lot. Less than 40 miles northeast of Manhattan, the city of Stamford, Connecticut boasts strong demographics and rapid population growth. Neighboring businesses in the surrounding retail corridor include Home Depot, CVS Pharmacy, a Public Storage facility and numerous quick service restaurants, among many others. 

View Profile
About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $45 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.