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Pearce Commercial Realtors Win CRE Award For $11M East Haven Shopping Plaza Transaction

December 17, 2013 | Reprints | Unlock Link | Print

pearce winners Rich Guralnick and Chris Nolan of Pearce Commercial Real Estate’s North Haven office and John Bergin and DeForest Smith of Pearce’s Milford office received the Biggest Retail Lease of the Year award at the New Haven Commercial Industrial Division’s (CID) Annual Awards Dinner.

The total value of the lease exceeded $11 million. Guralnick and Nolan represented Pyramid Construction Group, the owners of FoxHaven Plaza in East Haven. Bergin and Smith represented the tenant, Shop Rite/Wakefern in this long-term lease transaction at FoxHaven Plaza on Route 80.

As part of a larger deal between the owner, tenant and town of East Haven, the owners have overseen building façade upgrades, a parking lot redesign, installation of new energy efficient lighting and landscape improvements.

Shop Rite has transformed 60,000 square feet of the former A&P/Big Y grocery store space into a “shopping experience for the local community,” according to a press release.