Chris Romano / September 8, 2021
Real estate development and investment company Torrington Properties (Torrington) has acquired the Newington Park Shopping Center for $13.3 million. Torrington purchased the 15-acre shopping center from real estate investment trust Urstadt Biddle Properties Inc., which owned the property since 1979.
The center offers 102,000 s/f of space for commercial, retail and medical offices. Torrington plans to transform the property into a vibrant, energized destination that will benefit Newington and the surrounding area. The Mount Vernon Company, a firm widely regarded as one of the top developers in New England and known for socially responsible activities and community involvement, has partnered with Torrington on several projects and is a co-investor. The company is headed by Bruce Percelay and was founded over 30 years ago. Torrington also worked with The Boulos Company to secure the Newington Park Shopping Center.
Find the full NEREJ article here: https://nerej.com/torrington-properties-acquires-newington-park-shopping-center-for-13-3-million