another one sold

HARTFORD-Centro Properties is letting go of Charter Oak Marketplace--a 259,056-square-foot shopping center here--listed at $19.25 million. The buyer, Paramount--a New Jersey-based REIT--was procured by Sharon Bands, VP investments and senior director at Marcus & Millichap's National Retail Group, based in Manhattan. Bands also represented the seller. The official sale price was undisclosed.

The retail center--at 475 Flatbush Ave.--has a 149,551-square-foot free-standing anchor, along with a Marshall's and Dollar Tree, as well as McDonald's Taco Bell, Popeye's, Polo Tropical and Texas Roadhouse on pad sites. The property, just outside downtown Hartford, is easily accessible to the Interstate-84.

There was a "lot of activity" with "ten competitive offers from strong northeastern buyers," Bands tells GlobeSt.com. The anchor and pad tenants was attractive to buyers, as well as the existing financing--at roughly 4.9%--which is interest-only until June 2015.