Northeast Private Client Group Sells Simsbury, Connecticut Retail Plaza for $3.5 Million

SHELTON, CONN., December 21, 2016 – Investment sales broker Northeast Private Client Group, with offices in New York, Connecticut and Massachusetts, has announced the sale of the 25,750-square-foot mixed-use property known as “Fiddler’s Green” located at 2-10 Wilcox Street in Simsbury, Conn. Edward Jordan, JD, CCIM, the firm’s managing director, and Taylor Perun, senior associate in the Hartford/Springfield market, represented the seller in the $3,425,000 transaction, which closed on December 19

“We have a proven track record of matching our clients with qualified buyers for commercial and multifamily properties,” said Jordan. “In this instance we worked exclusively for the owners of the property to manage a highly competitive process and identity the successful buyer for the asset.”

Fiddler’s Green is a fully renovated, 100% leased, multi-tenant commercial property in downtown Simsbury, Conn., and is currently occupied by a mix of local retailers, restaurants and businesses on net and modified gross leases. The property is well-positioned for continued appreciation, as Simsbury’s demographics show continued strength. Fiddler’s Green was sold together with the adjacent 3,750-square-foot mixed-use property known as 750 Hopmeadow Street, a historic residential structure to be used for commercial purposes.

The seller, Fiddlers LLC, is a Connecticut-based investor. The buyer, also a Connecticut-based real estate investor, purchased the property for a price that equates to approximately $133 per-square-foot, and a capitalization rate of 7.5%. The buyer was represented by Gayle Erickson of Berkshire Hathaway Commercial Group.

“Our team has a deep understanding of investment real estate with local expertise in regional submarkets from New York to Boston,” explained Jordan. “Our specialized knowledge and relationship-based approach provide unmatched results for our clients.”

About Northeast Private Client Group

Northeast Private Client Group is the leading mid-market investment sales firm in the region, and was recently named to the Inc5000 list of America’s fastest-growing private companies. With offices in New York, Connecticut and Massachusetts, the firm actively supports private investors looking to buy, sell or exchange mid-market properties including mixed-use, multifamily, retail and office assets. Northeast Private Client Group’s highly disciplined process is just one of the many reasons the firm has earned CoStar’s Power Broker designation year after year. To learn more, visit: www.northeastpcg.com.