New York City investor Brixmor Property Group says it bought Manchester’s Plaza at Buckland Hills for over twice its appraised value.

The company disclosed the purchase in a letter to investors about recent investment activity.

The nearly 314,000-square-foot strip retail center is located next to the Shoppes at Buckland Hills mall and was built in 1987, according to town records. Brixmor also owns The Manchester Collection, a smaller big-box retail property on the opposite side of the mall.

Town record say the property is appraised at $31.35 million. Brixmor said it paid $67.5 million for the property.

The grocery-anchored plaza counts Trader Joe’s, Marshalls, and Total Wine & More as its anchor tenants and “presents growth opportunities through below-market in-place rents,” Brixmor said.

The deal was one of four purchases Brixmor made in the fourth quarter, it said, including retail assets in Florida, North Carolina and Michigan, totaling $211.8 million.

“We are pleased to continue our external growth strategy through the addition of seven assets that present significant, accretive opportunities for future growth and value creation,” Chief Investment Officer Mark T. Horgan said in a statement “Importantly, these targeted acquisitions also continue to cluster our investments in dynamic retail markets across our nationwide footprint. We look forward to additional external growth in 2025.”