Photo courtesy of CBRE

Real estate investment management firm Realty Income Corp. has bought a Simsbury grocery store property.

An affiliate of Primex Capital sold the grocery store building to an LLC affiliated with Realty Income Corp. Aug. 31 for $17.33 million, according to a deed filed with the Simsbury town clerk’s office.

No mortgage appears to have been recorded in connection with the sale.

Primex bought the 64,948-square-foot property, which is leased to Stop & Shop on a long-term basis, in 2019 as part of a $41.85 million transaction that included other parts of the Simsbury Commons shopping center in which the grocery store is located.

Simsbury Commons sits in a larger retail node at the intersection of Avon, Canton and Simsbury, on the main east-west road between the Hartford region and Litchfield County. Tenants include a Walgreens pharmacy in an out-building, a small cinema, several small retailers and a trampoline park/indoor playground in a former Bed Bath & Beyond anchor space.

A Walmart, Big Y grocery store, car dealerships and several strip retail centers make up the neighborhood.

Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners team represented the seller and procured the buyer.

“The buyer will benefit from the center’s stable, long-term income. We continue to see strong investor demand for centers in infill markets with high volume, credit tenants,” Gavin said in a statement.