Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners represented Hoffman Investment Partners in the sale of Newfield Green in Stamford, Connecticut for $45.3 million. The team was also responsible for procuring the buyer, Urstadt Biddle Properties.

Newfield Green is a 71,588± SF grocery anchored center with Grade A Market (member of the ShopRite/Wakefern cooperative) and CVS occupying over 60% of the center and providing strong in-place income. The property is located in a high demographic, infill market on Newfield Avenue with 127,200 residents and average household incomes over $117,000 within three miles of the center. Newfield Green has a history of high occupancy and very strong sales, with Grade A and CVS having been at the center for decades and increased their footprints significantly over time. Other tenants at the center include Chase, M&T Bank, Subway and Excel Urgent Care.

Mr. Dunne commented: “Newfield Green is an irreplaceable asset in a densely populated residential neighborhood. Its history of high occupancy and very strong sales will provide Urstadt Biddle with stable income for years to come.”

CBRE’s Metro NY National Retail Partners has a number of attractive retail investment opportunities on the market, including: Pelham Bay Professional Center, a 77,000-square-foot mixed use retail and medical property in the Bronx, NY; Silver Sands Plaza, an 85,000-square-foot Stop & Shop anchored center in Milford, CT; and Maple Tree Place, a 489,000-square-foot center in Williston (Burlington), Vermont.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.