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Adding value through expert redevelopment and leasing strategies.


New Brite Plaza, New Britain, Connecticut

WP Realty, a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Pennsylvania, is pleased to announce the acquisition of New Brite Plaza located in New Britain, Connecticut, on June 11, 2007.

New Brite Plaza is a 164,000 square foot community shopping center situated in the heart of downtown New Britain at the intersection of Routes 71 and 174. It is less than two miles from Central Connecticut State University and 9 miles southwest of the capital city of Hartford. The City of New Britain has initiated a multi-million dollar revitalization plan for the area, which was traditionally a manufacturing center and home of the well-known Stanley Works, world-wide producer of tools and hardware.

The shopping center was formerly anchored by an IGA Supermarket in 51,318 square feet. Other tenants include Dollar Dreams, Advance Auto, Town Fair Tires and McDonaldĂ­s. The property enjoys high visibility at the confluence of five major roadways and is situated directly across from the access ramp for Route 72, a major thoroughfare that provides direct access to Interstates 84 and 91. There is excellent access to the shopping center via four curb cuts and a signalized intersection at East Main Street.

Along with high traffic counts, New Brite Plaza also draws significant foot traffic from neighboring apartment buildings, and is well-positioned to become the dominant shopping destination in the area. New Brite Plaza provides an excellent opportunity to acquire a well-located community shopping center with considerable upside through the lease-up of the vacant anchor space. The principals of WP Realty have extensive expertise in leasing and entrepreneurial management and turning underperforming centers around.v