Q2 2012 Fairfield County, Connecticut Retail Property Sales Analysis

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Q2 2012 Fairfield County, Connecticut Retail Property Sales Analysis


The first quarter of 2012 had seen the largest retail investment sale in some time as well, as the 86,250-square-foot Kings Crossing Shopping Center in Fairfield sold for $57.5 million ($667 psf). In the second quarter, on the other hand, the only sale recorded thus far was a 5,700-square-foot property on Westport Avenue in Norwalk, which Midland Realty Corp. sold to 390 Westport Avenue LLC in April. The price was $2.2 million ($390 psf) and the cap rate was 6.9%. The rolling 12 month cap rate, based on a total of three sales, was 6.2%. Another significant sale took place in August. See retail Special Real Estate Factors.