Shops At Evergreen Walk Sold, New Owners Say

SOUTH WINDSOR, CT — The Shops at Evergreen Walk has new owners, the companies announced Tuesday.

Brand Street Properties and Barings announced in a press release that they have purchased The Shops at Evergreen Walk, an outdoor shopping center in South Windsor.

The property was bought from PGIM on December 23rd for $98.25 million, according to the companies.

Brand Street Properties, which is based in Greenwich, has already been managing Evergreen Walk for the past five years and will continue to run the center alongside Barings. Barings is a global investment firm headquartered in Charlotte, North Carolina, with about $470 billion in assets under management.

Evergreen Walk opened in 2004 and includes stores and businesses such as Whole Foods Market, lululemon, Golf Lounge 18, J.Crew Factory, Gap Factory, Nike, and Bluemercury.

“This acquisition allows us to build on the strong foundation established over the last 20 years,” said Paul Brandes, president of Brand Street Properties, adding that the company plans to keep attracting well-known retailers and hosting community-focused events.

The new owners said they plan to keep investing in the property, including upgrades to common areas, general improvements, and expanded community events.

According to the press release, Brand Street Properties owns and manages retail and mixed-use properties across several states, including Connecticut, Massachusetts, New York, New Jersey, North Carolina, Pennsylvania, Rhode Island, and Vermont.