Mansfield Trio Adds to Newman’s New England Run; Horvath & Tremblay Broker Deal

MANSFIELD CT — Newman Properties and Atlantic Capital Commercial Real Estate closed on the retail plaza at 96 Storrs Road for $5.85 million, adding a new 2024 build to their growing New England portfolio.

The newly constructed three-tenant plaza is located at 96 Storrs Road. National retail brands Aspen Dental, Five Guys, and Chipotle occupy 8,502 square feet. The center also features a new 10-year lease for Electric Vehicle (EV) Charging Stations. Bob Horvath, Todd Tremblay, and Matt Nadler of Horvath & Tremblay handled the deal, with Rockland Trust providing financing and Jessica Heywood of Dwyer Goncalves overseeing legal.

Aspen Dental has 8+ years left on its lease with three (3), 5-year renewal options; Five Guys has 13+ years remaining on its lease with two (2), 5-year renewal options; and Chipotle has 8+ years remaining on its lease with four (4), 5-year renewal options. All three leases call for attractive 10% rent increases every five years throughout the primary lease terms and at the start of each of the renewal option periods.

The Mansfield pickup folds into Newman’s broader regional push. The company and its affiliates now manage more than 750 residential units plus a mix of commercial and retail assets, with over $500 million in completed transactions across Greater Boston and the coastal markets.