E.V.P. Barry Waisbrod Arranges Off-Market Sale of 275,230 S.F. Shopping Center to America’s Realty, LLC

Woodbridge, N.J., October 10, 2024 – The Kislak Company, Inc. announced the recent sale of East Brook Mall, a 275,239-square-foot shopping center at 95 Storrs Road in Mansfield Center, Tolland County, Connecticut, for $12,000,000.

Kislak arranged the off-market sale with executive vice president Barry Waisbrod representing the purchaser, America’s Realty, LLC, which is led by its president and C.E.O. Carl Verstandig.

Mr. Waisbrod commented, “The purchaser is a retail acquisition firm focusing on properties in middle-income markets with value-add potential. They currently own in 29 states throughout the U.S. and this mall was an ideal acquisition for them given their investment criteria and its low $44 per square foot price. With vacancy around 11%, the property has strong value-add and development potential.”

Built in 1975 and renovated in 2005, the property consists of an enclosed mall and outdoor portion with pad sites. It includes national and local retailers such as Old Navy, Kohl’s, TJ Maxx, and Michaels and is located in eastern Connecticut, 30 miles east of Hartford at routes 6 and 195 between the University of Connecticut and Eastern Connecticut State University.

This was Kislak’s and Mr. Waisbrod’s second retail transaction with the purchaser this year following America’s Realty, LLC’s purchase of Uptown Plaza, a 156,066-square-foot shopping center with two pad sites in Harrisburg, Pennsylvania in March. The Connecticut sale was completed in partnership with Andrew Knight of New England Commercial Brokerage.

Barry Waisbrod joined Kislak in 2001 and is consistently among the firm’s leading salespeople. He specializes in the sale of multifamily and other investment properties throughout New Jersey and its neighboring states. Mr. Waisbrod received the firm’s Sima Kislak Jelin Salesperson of the Year award in 2023, 2019, 2015 and 2013 and its Jay I. Kislak Producer of the Year award in 2023 and 2021.

About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, Delaware, and Florida.

Now in its 118th year, Kislak was among a select group of firms recognized as a 2023 Power Broker by CoStar Group, Inc. and this was the firm’s 18th consecutive recognition. Kislak was also named by NJBIZ as a 2024 Leader in Real Estate, Construction and Design and this was the firm’s third recent recognition.