Jasko sells fully occupied shopping center in New Britain
November 21st, 2017
Shopping center Site was originally purchased with 70% vacancies
[New Britain, Connecticut] Jasko Development, LLC announces that it has sold the shopping center at 450 South Main Street New Britain to Jericho Realty, LLC of South Windsor, Connecticut. The two-building complex consists of a 2,992 SF, one-story, Columbia Dental Office and a six-occupant, 8,308 SF retail strip plaza with additional separate storage units located in the rear.
The plaza is on a central business corridor that sits one-quarter mile from both the cities professional baseball stadium and the 3,000 student New Britain High School.
When purchased by Jasko in August of 2007, the shopping center was only 30% occupied. Seeing promising value in the location and accessibility of the property, Jasko CEO Avner Krohn, embarked on a multi-faceted capital repair plan that refreshed the enclosed retail strip and also created a full-service dental facility on the stand-alone pad that had previously been leased by a banking tenant.
This would be the first of many dental and medical conversions for Jssko Development who has gone on to build or convert multiple additional facilities for Columbia Dental, Charter Oak Dental, Brilliant Smile Dentist, and AFC Urgentcare throughout the state.
Many of these facilities were created under Jasko’s “Build-to-Suit” program which provides all of the funding, and guidance necessary for the creation of medical/dental/retail sights for national franchisees and local professionals looking for worry-free expansion options. These services include, site selection, entitlements, site acquisition, architectural and engineering design, engineering, permitting, utility oversight, equipment installation and turn-key construction of the new facilities, Jasko’s non-medical tenants partners include quick service restaurants Dunkin, and Subway, and retailers Shell and T-Mobile.
For information on Jasko Development and the Build-To-Suit program, contact Avner Krohn, President of Jasko Development, LLC by visiting www.jaskogroup.com/contact-us. Follow Jasko Development, LLC on Facebook.
Jasko has the knowledge and experience to successfully complete a wide range of projects. Trailblazers in the development of historic, multifamily, commercial, mixed-use properties, as well as turn-key healthcare facilities and build-to-suit medical, dental and retail projects.
“We are a privately-owned, vertically integrated real estate company focused on developing, owning and managing a diverse portfolio of properties throughout the Northeast. As a value-driven company, we work diligently to increase the net operating income and sustainability of our projects, making us an optimal partner”. Says Avner Krohn, Chairman and CEO of Jasko Development.
For information on Jasko Development and their Build-To-Suit program, contact Avner Krohn, President of Jasko Development, LLC by visiting www.jaskogroup.com/contact-us. Follow Jasko Development, LLC on Facebook.