Anchored by ShopRite, Wallingford Fair Shopping Center is a grocery-anchored freehold property located in Wallingford, Connecticut (Source: United Hampshire US REIT)
United Hampshire US REIT has completed the acquisition of Wallingford Fair Shopping Center, a grocery-anchored freehold retail property in Connecticut, as it continues to recycle capital into higher-yielding assets across the US.
The purchase price of US$21.4 million ($27.56 million) is about 8.2% below the independent valuation of US$23.3 million, the REIT manager said in a bourse announcement on Jan 15.
The 115,223 sq ft freehold retail property’s anchor tenant is ShopRite, a supermarket chain that has operated at the Wallingford Fair Shopping Center since 2010.
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This marks United Hampshire US REIT’s entry into Connecticut, a densely populated and affluent state. Located in Wallingford, the property is situated in eastern New Haven Country, north of the New Haven Central Business District.
The asset is fully leased with a long committed weighted average lease expiry (WALE) of 12.8 years, providing stable income visibility. The REIT’s committed occupancy will remain stable at 97.2%, with its WALE at 7.6 years as at Sept 31, 2025.
The acquisition follows the REIT's purchase of Dover Marketplace in Pennsylvania in August 2025, another grocery-anchored freehold asset acquired below valuation. Both transactions were funded using proceeds from the divestment of Albany Supermarket, completed in 1Q2025.
Gerard Yuen, CEO of the REIT’s manager, said the acquisition is yield-accretive and further strengthens portfolio diversification and income resilience. Following the acquisition, the REIT is expected to see a 2% uplift to its distribution per unit to 4.11 US cents on a pro forma FY2024 basis.