Located at 1235 Farmington Avenue in Bristol, the strip center used to be a grocery-anchored property, says the seller's broker, Joseph French Jr. of Sperry Van Ness, an Irvine-based commercial real estate service firm. "The leasing company recently re-leased the space to Big Lots, bringing the center to nearly 90%occupancy," says French. "This allowed our brokerage company to sell a center that provided some upside to a new buyer at an attractive yield."

Bristol Farms Plaza is situated in an established area of Bristol that contains 2.3 million sf of commercial space, located primarily in strip shopping centers along the eastern portion of Route 6 in Downtown Bristol. The center is 89% leased. Key tenants include Big Lots, Marshalls, Sears Hardware and JoAnn Fabrics.

Blue Devil could not be reached for comment. Other sources tell GlobeSt.com that Bristol Farms is the company's second acquisition outside of Long Island.