WASHINGTON (dpa-AFX) - Federal Realty Investment Trust (FRT) said Wednesday that it has acquired a shopping center on 9 acres directly across from the Noroton Heights train station in affluent Darien, Connecticut for $47.3 million.
The property is anchored by a Stop & Shop grocer, a Walgreens drug store and an Equinox health club and serves one of the most affluent commuter towns in the U.S.
'We couldn't be more excited to expand our presence in A+ locations surrounding New York City', said James Taylor, Federal Realty's chief financial officer. 'Darien has long been high up on our list of coveted locations due to its strong demographics and high barriers to entry for new retail development.'
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