Kimco acquires Connecticut retail center for $39.7M

Kimco Realty announced Tuesday the company had acquired a new piece of property in the affluent neighborhood of Wilton, Conn.

The New Hyde Park-based real estate trust purchased the 97,000 square-foot retail center -- called Wilton Campus Shops -- from Kleban Properties for $39.7 million. The deal also includes $20.9 million of mortgage debt.

The retail center is currently 98 percent occupied, with a Stop & Shop on nearly half of the property and more than 20 smaller stores and restaurants taking up the rest of the space.