Open-Air Groton Shopping Center Trades to Sigmund Companies Partnership – Connect CRE

The Sigmund Companies (TSC) and Broadview Real Estate Partners acquired Groton Shoppers Mart, a 171,858-square-foot open-air, grocery-anchored shopping center at 955 Poquonnock Rd. in Groton, CT. The purchase price was not disclosed.

Owned and operated by a private investor since construction in 1961, Groton Shoppers Mart is anchored by national convenience and necessity-oriented retailers, including Big Y, CVS Pharmacy, Chase Bank, Starbucks and others.

TSC will operate the property in a joint venture with Broadview. Atlantic Capital Partners represented the owner in the sale, and Atlantic Retail will handle the leasing and management.

“As an established epicenter in a growing New England community, Groton Shoppers Mart aligns with our thematic open value strategy, which targets convenience and necessity retail in need of strategic intervention across the United States, and will be provided with the expertise and capital to fortify the center’s long-standing legacy,” said D. Wright Sigmund, TSC managing partner.