Estero Holding Company breaks ground on The Shoppes at Cottage Grove - PeoplesBank and Sherwin-Williams to anchor new retail center

Bloomfield, CT MACK V Development, through its subsidiary Estero Holding Company, will break ground on The Shoppes at Cottage Grove, a new retail and professional center at 529 Cottage Grove Rd. on Friday, May 22, 2026. The 15,359 s/f development will be anchored by PeoplesBank and Sherwin-Williams, with additional space available for lease.

The site is at one of town’s most active intersections, with a dedicated signal at Northwestern Dr. and Cottage Grove Rd. and a traffic count exceeding 22,000 vehicles per day. These attributes give the center strong visibility, easy access, and ample parking.

“This location has always had the bones to support a great retail center. It’s surrounded by strong retailers, medical offices, the University of Hartford, and hundreds of new apartments — all signs of a growing need for more options close to home,” said developer Mark D’Addabbo, managing member of MACK V Development and Estero Holding Company. “We’re thrilled to break ground with PeoplesBank and Sherwin-Williams as anchors, and grateful to Bloomfield’s town officials for being terrific partners every step of the way.”

With national retail vacancy rates hovering around 5%, D’Addabbo noted strong interest from restaurants, retailers, medical groups, and professional services firms for the remaining 9,250 s/f.

For PeoplesBank, the Cottage Grove project is part of a steady expansion across Connecticut, with additional banking centers planned in the months ahead. Beyond anchoring the center, the bank is also financing the development for D’Addabbo, a longtime customer.

“The Shoppes at Cottage Grove is the kind of project that strengthens both a community and our presence in it,” said Frank Crinella, chief banking officer at PeoplesBank. “Bloomfield has deep roots and real momentum, and we’re proud to be putting down our own here for the long term.”

Estero Holding Company, a subsidiary of MACK V Development, is a Rhode Island-based commercial real estate development firm focused on constructing, developing, and managing retail and professional centers in well-positioned communities across the region. Led by managing member D’Addabbo and working through MACK V Development, the firm brings projects to life with an emphasis on strong locations, accessible design, and long-term partnerships with anchor tenants and the communities they serve.

PeoplesBank is a community-focused mutual bank serving Connecticut and Massachusetts. As a mutual institution, we answer to our depositors, employees, and neighbors — not outside shareholders — allowing us to prioritize long-term value and local impact. We’re recognized for innovation, corporate responsibility, and environmental leadership, including LEED-certified offices and more than $350 million financed in wind, hydroelectric, and solar energy projects. Through volunteer hours and millions in charitable giving, we help strengthen the Connecticut and Massachusetts communities where our customers live and work. With banking centers across Connecticut and Massachusetts, PeoplesBank brings big-bank capability with a community-bank commitment.