Manchester’s Shoppes at Buckland Hills is now on the market. The sale listing from JLL comes a month after a separately-owned anchor space once occupied by a Sears went to auction.
The 1.32 million-square-foot property is currently just under 80 percent occupied, the listing held by Senior Managing Director David Monahan and Managing Director Cameron Pittman states.
In addition to over 600,000 square feet of anchor space – including a vacant, 80,000-square-foot anchor slot – the property also has two on-site hotels: a 93-room Fairfield Inn & Suites and a 105-room Homewood Suites by Hilton. Just under 50,000 square feet of in-line, non-anchor retail space is available for lease and another 90,000 square feet of in-line retail suites are being leased on a temporary basis that could be converted to permanent tenants.
In addition to traditional anchor stores Macy’s and JCPenney, the mall has a Dave & Busters entertainment venue located in an outbuilding.
The Shoppes at Buckland Hills appears to be in somewhat better financial shape than many of Connecticut’s other malls. The JLL listing states that the property is still the state’s second-most frequented regional mall, and that small-shop sales at the property have consistently been in the upper $300 per square foot to low $400 per square foot range as far back as 2015.
No asking price is noted, and public listing materials state the site will be auctioned “as-is,” but that the JLL team is also presenting the property “to select investors” who express interest and sign confidentiality agreements.