Sunday, July 21, 2024

Westport’s Compo Shopping Center Sells For Millions

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WESTPORT, CT — Compo Shopping Center, on the Post Road East in Westport, was recently sold to Florida-based real estate investment trust Regency Centers for $45.5 million, the company announced.

Compo Shopping Center reportedly is one of the oldest shopping centers in the state, and has popular stores such as CVS and Gold’s Deli, in addition to nearly two-dozen other commercial destinations.

Regency Centers also owns the Compo Acres Shopping Center, anchored by Trader Joe’s, across the street. The two shopping centers will be rebranded under the Compo Acres moniker.

Compo Shopping Center, which is two buildings, combined measures more than 75,000 square feet, was owned by the local family run firm Brooks, Torrey & Scott Inc., CT Insider reported.

In total, the new Compo Acres Shopping Center will span more than 120,000 square feet.

“This center is a natural fit into Regency’s expertise and ability, not to mention our existing center across the street,” said Jack deVilliers, Regency Centers’ Senior Market Officer and Senior Vice President, said in a statement. “We have had so much activity in this incredible market, and for good reason. The communities, the quality of centers, and the opportunity to bring a time-tested strategy to those environments is what we pride ourselves on. It’s why we planted our flag here and continue to call this place home.”

The other Westport properties owned by Regency Centers are Westport Collection, at 1460 Post Road East, and Westport Row, at 605-645 Post Road East.

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