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

[SINGAPORE] The manager of United Hampshire US Real Estate Investment Trust (Reit) has acquired Wallingford Fair Shopping Centre 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 Q1 2025; internal funds; and external borrowings.

Built in 1998, Wallingford Fair Shopping Centre 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.”