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Clinton Commons Mall Sold for $12.6M

November 29, 2018 | Reprints | Unlock Link | Print

A mall in Clinton has sold for $12.6 million.

The 82,000-square-foot shopping complex was sold by NorthStar Properties to Cedarhurst, New York-based The Triple Net Group, officials with CBRE told the Middletown Press. CBRE brokered the deal.

“Clinton Commons provided the opportunity for a buyer to purchase a stabilized, grocery-anchored center in a desirable and affluent market,” Jeffrey Dunne, part of the CBRE team that represented NorthStar Properties, told the Press. “The center’s stable rent roll and strong anchor was a perfect fit for the purchaser’s 1031 exchange.”

The shopping center is 95 percent leased and its tenants include Jo-Ann Fabrics and Advance Auto Parts.