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Liberty Rock Shopping Center
Milford, CT - Anchored Shopping Center
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Investment Highlights
• Motivated Seller Price Reduced to $11,000,000
• Value Add: Kmart Will Give Back 20,000sf
• Kmart is 1/3 of Market Rent
• Anchors account for over 83% of the center
• National Credit Tenants Include Walgreens, Big K-Mart, Dollar Tree, Taco Bell/Pizza Hut
• 80-minutes away from NYC
• Leasehold Interest with approximately 65-years remaining on the ground-lease
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Liberty Rock Shopping Center is a 175,876 square-foot multi tenant retail center in Milford, CT. National tenants include, Kmart, Walgreen's, Dollar Tree, Taco Bell, and Rainbow.
The property is situated on 17.91 acres, has 1,097 parking spaces, with traffic counts of approximately 20,000 vehicles per day.
Liberty Rock has been severely mismanaged by an out of country owner. There is tremendous value add in re-leasing 20,000sf that Kmart is willing to give back. Kmart is paying 1/3 of market rent, and the 20,000sf can generate an additional $150K in NOI.
Liberty Rock is a leasehold interest with 65 years left to the ground-lease, with a fixed rent for the entire remaining term.
The property is located on the hard corner of Bridgeport Avenue and Landsdale Avenue, Milford, Connecticut. The area has a dense 147,000 population within a five-mile radius and is just half a mile from Interstate-95 on/off ramp.
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