Village Center in Westport Sells for $54.25M

The 90,000 S.F. shopping plaza in Westport, known as the Village Center, has sold for $54.25 million to a real estate investment firm, Equity One, Inc. The firm bought the shopping center from the Kowalsky family that built and owned the center since 1974. The demand was high for the shopping plaza, especially since current zoning regulations prohibit new construction that is greater than 10,000 S.F. in any one building.

The shopping center is approximately 90,000 S.F. and is comprised of four separate buildings at 605-645 Post Road East. The Village Center sits on 7.55 acres. The plaza sold 95% occupied to tenants such as Dunkin Donuts, The UPS Store, and its anchor, The Fresh Market, a specialty grocery store.