Galaxy Development plans retail project on 3.5 acre corner site
Galaxy Development is planning a new project in Southington located on one of the busiest signalized intersections along Queen St. The site is at the corner of Loper St. and Queen St. a/k/a Rte. 10. It is immediately across from Price Chopper and has a traffic count of over 23,500 vehicles per day. The property has nearly 700 ft. of road frontage on the two streets.
Site development plans call for a retail building of up to 15,000 s/f with drive thru, and also a 3,800 s/f bank building with triple drive thru. There is also a smaller pad available which would be in the back portion of the site, yet will have visibility to Queen St. as well as signage on the planned pylon. This portion of the site can accommodate a single user for approximately 4,000 to 6,000 s/f.
Queen St. has remained one of the most sought after destinations for retailers due to the strong demographics and constant growth of the community even over the last few years when development in other towns has slowed.
New retail stores such as BJ's, Shop Rite and Rite Aid have all opened in the last year and now join national neighbors such as Walmart, CVS, Price Chopper, Staples, Home Depot, TJ Maxx, Chili's, Bed Bath & Beyond, Advance Auto and numerous others making this one of Connecticut's primary retail trade areas.
Patrick Doherty, PE, LEED of MidPoint Engineering has been retained to perform civil engineering services as well as coordinate all permitting for the site development process.
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.