Horvath & Tremblay handles $1.475m sale of 11,520 s/f plaza

Danbury, CT Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have completed the sale of an 11,520 s/f retail plaza. Horvath & Tremblay exclusively represented the seller and sourced the buyer to complete the transaction at a sale price of $1.475 million.

The retail plaza is located at 132 Federal Rd. The plaza contains 11,520 s/f of gross leasable area on a one-acre parcel. 132 Federal Rd. is comprised of six units and is leased to Starbucks, Club Pilates, and Mobile Rescue and has three vacant units. The property offers significant upside through the lease up of the 6,853 s/f of vacant space. The property is well located along Federal Rd. and benefits from visibility and frontage. The location is part of a dominant trade area centered around the junction of US Rte. 7/202 and I-84, with numerous businesses, national retailers and restaurants driving traffic to the area. The property is surrounded by densely populated residential neighborhoods and apartment communities that provide a captive customer base. 132 Federal Rd. is also convenient to Danbury Hospital and Western Connecticut State University, both of which draw significant traffic to the area.