Nat Heald, Jeffrey Dunne and David Gavin of CBRE’s National Retail Partners represented DRA Advisors and KPR Centers in the sale of Bethel Shopping Center at 83 Stony Hill Rd. in Bethel, CT. CBRE also procured the buyer, Phillips Edison & Company. Terms of the sale were not disclosed.

Located in an affluent Fairfield County market, Bethel Shopping Center is a 101,105-square-foot, 91% leased center anchored by Big Y Supermarket, Starbucks and Dollar Tree. Its tenant roster also includes Great Clips, Quest Diagnostics and Casa Tequila.

In a statement, CBRE’s National Retail Partners said, “The center’s attractive rent roll, strong grocery anchor and long-term leases provide highly stable income with further upside opportunity through lease-up of the well-positioned pad along Route 6. We continue to see tremendous demand for grocery-anchored properties across the country, with limited supply to meet the magnitude of current investor demand.”

First National Realty Partners (FNRP) has acquired Waretown Town Center, an 87,735-square-foot grocery-anchored shopping center located in Waretown, within New Jersey’s Ocean County. This acquisition for an undisclosed sum marks Red Bank, NJ-based FNRP’s seventh shopping center in New Jersey.

Waretown Town Center is anchored by a 60,800-square-foot ShopRite, a market-leading grocer with more than 15 years of operating history at the shopping center. ShopRite is joined by a diverse mix of tenants, including Meridian Health, Shore Smiles Dentistry, Saladworks and Great Clips.

“This market-dominant asset highlights our strategic approach to acquiring high-quality shopping centers in strong retail corridors,” said Mike Hazinski, CIO at FNRP. “Grocery-anchored retail continues to be a preferred asset class due to a phenomenal operating environment with robust tenant demand coupled with limited new supply.”

Colin Behr and Chris Munley at CBRE represented the undisclosed seller.