Paramount Adds Connecticut Retail Center to its Portfolio
On July 1, 2011, an affiliate of Paramount Realty acquired the 155,956 square foot New Brite Plaza shopping center located in the heart of New Britain’s Retail Corridor from WP Realty. The center is 100% Leased to a strong and well diversified tenant roster including Marshalls, Save-A-Lot, and Ocean State Job Lot. In addition to the three anchor tenants, the center is home to national and regional credit tenants such as H&R Block, Dunkin Donuts, Rent-A-Center, Advance Auto, Radio Shack, Town Fair Tire, Rainbow, and Payless Shoes. The center is located on East Main Street and conveniently situated at the intersection of Route 9 and Route 72, which see more than 56,000 and 52,000 cars daily, respectively.
Paramount Realty currently owns and manages two retail shopping centers in close proximity to New Brite Plaza in the state of Connecticut, these include the 300,000 square foot Charter Oak Marketplace in Hartford and the 252,000 square foot Enfield Commons in Enfield. Paramount looks to further expand their 4,000,000 square foot portfolio in the New England area.