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terling Organization, a Florida‑based private‑equity real estate firm, has taken ownership of the Bristol Plaza shopping center in Connecticut. The 263,000‑square‑foot complex on Farmington Avenue in Bristol is anchored by Stop & Shop and hosts national retailers such as T.J. Maxx, Burlington, Five Below and Starbucks. While the purchase price was not disclosed, the property, comprising land and buildings, is appraised at $27.7 million and carries a tax assessment of $19.4 million, according to Bristol records.

    The transaction was executed through Sterling’s $600 million institutional value‑add fund, Sterling Value Add Partners IV. “Bristol Plaza offers a high‑performing, grocery‑anchored retail hub with immediate value‑add opportunities,” said Jordan Fried, principal at Sterling. “With a strong anchor and a necessity‑based tenant mix, we’re eager to enhance the property’s value for the Bristol community and deliver robust returns to our partners.” Bob Dake, another principal, added that the asset’s nearly 25,000 sq ft of current vacancy and a roughly 4‑acre section of the center present significant upside. “Our team will leverage operational expertise to maximize Bristol Plaza’s potential, collaborate with existing tenants, and attract new brands to strengthen the mix for shoppers and co‑tenants,” Dake noted.

    The acquisition comes as Bristol’s downtown area is poised for revitalization, with new restaurants and expansions of long‑standing favorites already underway. Sterling’s portfolio now spans 82 properties across the United States, covering nearly 14 million square feet and valued at over $3 billion. The firm maintains more than $1 billion in buying power across various investment strategies and actively seeks new opportunities.

    In addition to Bristol Plaza, Sterling owns the Copaco Center in Bloomfield, a 439,644‑square‑foot grocery‑anchored mall anchored by Stop & Shop and Lowe’s Home Improvement. At the time of purchase, Copaco was 93 % leased to a mix of national tenants including Burlington, Planet Fitness, Dollar Tree, Five Below, CVS, IHOP, and McDonald’s. The Bloomfield location sits near major employers such as Cigna, MetLife, and Waste Management, and is close to Bradley International Airport and the University of Hartford. The surrounding area houses roughly 75,000 residents within a three‑mile radius, with average household incomes exceeding $115,000.

    “We’re excited to broaden our presence in the Hartford market with the Copaco Center acquisition via Sterling Value Add Partners IV,” Fried said. “Having known the property for nearly a decade, our team plans to enhance its value through targeted management, strategic leasing, and other value‑add initiatives, thereby strengthening its role in the local community while delivering strong results for our investors.”