United Hampshire US Reit acquires Wallingford Fair Shopping Center for US$21.4 million

[SINGAPORE] The manager of United Hampshire US Real Estate Investment Trust (Reit) has acquired Wallingford Fair Shopping Center in the US for US$21.4 million, it said on Thursday (Jan 15).

The price of the freehold retail property is 8.2 per cent lower than an independent valuation of US$23.3 million.

The deal was done through the Reit’s wholly owned subsidiary, and will be partially funded by proceeds from the divestment of Albany Supermarket, which was completed in the first quarter of 2025; internal funds; and external borrowings.

Built in 1998, Wallingford Fair Shopping Center spans 115,223 square feet, and is located in Wallingford, Connecticut.

It has a committed occupancy rate of 100 per cent, and a weighted average lease expiry of 12.8 years.

The building is leased to three tenants. The anchor tenant is ShopRite, a supermarket cooperative with stores in six states – Connecticut, Delaware, Maryland, New Jersey, New York and Pennsylvania – which has been operating at the property since 2010.

Petco and Wallingford Fair Self-Storage, which owns a self-storage facility that is operated by Extra Space Self Storage, are the other two tenants.

The property is also situated along Route 5 and accessible from Route 15 (Wilbur Cross Parkway), which are major transportation routes.

The deal marks the Reit’s first entry into Connecticut. Its portfolio post-acquisition will comprise 23 properties across nine states along the US Eastern seaboard.

Earlier in August 2025, United Hampshire US Reit’s acquisition of a grocery-anchored freehold property located in Pennsylvania – Dover Marketplace – was completed at 4.8 per cent below valuation.

Gerard Yuen, chief executive officer of the Reit’s manager, said: “Following the acquisition, the Reit is expected to see a 2 per cent uplift to its distribution per unit to US$0.0411 on a pro forma FY2024 basis.”