Horvath & Tremblay sells Fountain Square in Shelton, CT for $30.5 million

Shelton, CT Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have completed the sale of Fountain Square, a new construction retail center. Horvath & Tremblay exclusively represented the seller and secured the buyer to complete the transaction at a sale price of $30.5 million. 

 

 

 

Fountain Square is located at 779-795 Bridgeport Ave. Fountain Square is comprised of four newly constructed retail buildings consisting of a free-standing, ground leased Chick-fil-A, a single tenant building leased to CAVA, and two multi-tenant retail buildings leased to a diverse mix of national and regional retailers. The four buildings contain a total of 56,444 s/f and are positioned on a 6.11-acre parcel of land. Fountain Square is 100% occupied and features a strong tenant roster including Chick-fil-A, CAVA, Jersey Mike’s, Tropical Smoothie, Consumer Cellular, Sport Clips, European Wax Center, Club Pilates, Sugar Llamas, Crumbl Cookies, My Eye Dr., Yale New Haven Health Urgent Care, and other established retailers. The tenants have long-term net leases featuring scheduled rent increases throughout the primary terms and renewal options, providing investors with stable cash flow and protection against inflation. Fountain Square benefits from modern construction, attractive architectural design, beautifully landscaped grounds, and exceptional visibility and frontage along Bridgeport Ave., one of Fairfield County’s premier retail corridors. The property is strategically located between CT Route 8 and the Trapp Falls Reservoir, surrounded by high-end office buildings, medical facilities, national retailers, restaurants, and luxury residential communities that drive consistent traffic to the area. Fountain Square serves as a destination retail center for the surrounding communities of Shelton, Seymour, Ansonia, Derby, Monroe, and Trumbull, while also benefiting from direct access to CT Route 8, which serves more than 68,000 vehicles per day.