Big Trade for H&T Retail In $7.88M Trader Joe’s Sale

Shelton, CT — Bob Horvath, Todd Tremblay, Matt Nadler and Jack Laurendeau of Horvath & Tremblay have completed the sale of Trader Joe’s in Shelton, Connecticut. The H&T retail team exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $7,882,639, representing a 4.95% Cap Rate.

Located at 775 Bridgeport Avenue, Trader Joe’s is a pad site within Fountain Square, a newly constructed shopping center that consists of a 91,288 square foot shopping center positioned on 15.85 acres of land. Trader Joe’s has 9+ years remaining on their double net lease with four (4) 5-year renewal options. The Lease calls for rent increases every 5 years throughout the primary lease and at the start of each renewal option. Rent shall increase by the cumulative 5-year change in CPI with a cap of 10% for each adjustment.

The center is well located at the intersection of a busy retail, medical, and corporate office corridor along Bridgeport Avenue between Route 8 and the Trapp Falls Reservoir in Fairfield County.

The destination trade area serves the surrounding towns of Seymour, Ansonia, Derby, Monroe, and Trumbull, serving over 66,000 vehicles per day. Fountain Square is surrounded by high-end office buildings with a captive employment base, national retailers and restaurants, and luxury apartment communities that drive traffic to the immediate area.