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75,376-SF Shopping Center Sells for $8.3M

NEW YORK CITY-Kramont, a Plymouth Meeting, PA-based shopping center REIT, buys the supermarket-anchored center. The asset is strategically located near four other Kramont-owned centers, allowing for streamlined management at the new property.

By Glen Thompson | Updated on April 01, 2002

NEW YORK CITY-Plymouth Meeting, PA-based Kramont Realty Trust has signed a definitive agreement to acquire privately owned Killingly Shopping Center in Killingly, CT for roughly $8.3 million in cash.

The 75,376-SF grocery-anchored neighborhood center is nearly 100% occupied. Major tenants include a 50,000-SF A&P supermarket as well as a Blockbuster Video, Strawberries and local clothing retailer Eblens Casual.

“The Killingly center is a welcome addition to our property portfolio,” says Louis P. Meshon Sr., president and CEO of Kramont. “It has an excellent location in a stable, economically strong region. It is adjacent to Interstate 395 and heavily traveled state highways, making it easily accessible from a wide trade area.”

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