2 Waterbury Retail Properties Sell For Combined $45 Million: Report

WATERBURY, CT — Two large retail hubs in Waterbury have been sold for a combined $45 million, reported the Republican-American.

The Brass Mill Center and Brass Mill Commons were sold to Brass Mill Center Realty Holding LLC, which specializes in acquiring distressed malls, according to the publication. The commons fetched $26 million, while the center brought in $18.92 million.

Over the past several years, the center has struggled more than the commons, as malls in Connecticut and around the country have seen their fortunes erode, in part due to the rise in online shopping.

Major retailers Macy's and Sears closed large anchor stores in the Brass Mill Center in recent years.

Together, the two properties hold 1.2 million square feet of retail space, but the future reportedly may be for them to hold a mix of residential and retail space.

Read the Rep-Am story.