Colliers is pleased to present the opportunity to acquire the long-term leasehold position in 496 South Broad Street, a ±26,260 square foot multi-tenant retail center in Meriden, Connecticut. Positioned along Route 5, one of the region’s most established retail corridors, the property benefits from strong traffic counts (~17,000 VPD), excellent visibility, and adjacency to national retailers including Big Y, Burlington, Kohl’s, Aldi, and Lowe’s.
Built in 2007 and currently ~96% leased, the center is anchored by a diverse roster of nationally recognized brands across categories that have proven resilient to e-commerce disruption including healthcare, dental, wireless, personal care, and food & beverage. Major tenants include Hartford Healthcare GoHealth Urgent Care, Starbucks, Aspen Dental, AT&T Mobility, FedEx Office, Cold Stone Creamery, European Wax Center, and Elements Massage.
With net operating income of approximately $504,926, favorable demographics, and a below-replacement-cost acquisition basis, 496 South Broad Street offers investors a stable, service-oriented retail investment opportunity at a compelling yield.