Shelton, CT Joe La Fontaine, investment specialist at Star Commercial Real Estate, arranged for the $27 million financing of the Marketplace located at 405 Bridgeport Ave. The financing will convert from a construction loan into a permanent upon completion of the construction during the fall of this year. This 132,000 s/f retail center, is anchored by Big Y Supermarket which, in addition to other tenants, was leased by Roberta Sullivan, retail specialist, at Star Commercial.
Joe La Fontaine, Star CommercialThe area has been developing for a long time. In the mid 1990s Star Commercial brought in the first luxury hotel to Bridgeport Ave. Corporate office complexes had already begun to sprout up on Commerce Dr. and Trap Falls Rd. Now there is just under three million s/f of corporate office within one mile of Bridgeport Ave. Sullivan of Star also leased to TD Bank and Longhorn Steak House five years ago. Now all the major chain restaurants are here as well as multiple hotels to accommodate the traffic generated in this area.
Currently there is one vacancy in retail on the street, excluding the Shelton Marketplace, which is still under construction, but is pre-leasing.Â
Star Commercial was original founded in late 1993 as CDC Comm'l. R.E. and became Star Comm'l. in 2001.