THE PLAZA AT BURR CORNERS

Transcription

1 THE PLAZA AT BURR CORNERS MANCHESTER, CONNECTICUT WINSTANLEY ENTERPRISES LLC Commercial Development & Asset Management 150 Baker Avenue Ext., Suite 303 Concord MA Tel. (978) Fax (978)

2 REDEVELOPMENT OVERVIEW The Plaza at Burr Corners (the Property ) is a 283,127 square foot, multi-tenanted retail center located in the Central Connecticut town of Manchester. This well-established shopping center was built in 1965, renovated in 1990, and is located on a 26.3 acre parcel on the Tolland Turnpike, with immediate access to, and visibility from Interstate 84. Manchester, located in Hartford County, is located just 9 miles east of Hartford with outstanding regional access via Interstate 84 (North-South) and Routes 291, 384 and 44 (East-West). The center is located in one of Central Connecticut s premier retail areas, headlined by the nearby Buckland Hills Mall, with excellent visibility along Interstate 84, which sees over 133,000 vehicles per day. The Property consists of the main center, which totals approximately 193,000 square feet, eight out parcel buildings, and a 1.5+/- acre corner lot development parcel. The center is currently anchored by Pilgrim Furniture, which occupies 72,600 square feet, and also includes Planet Fitness, Subway, The UPS Store, and H&R Block. The outparcels include a McDonald s, Dunkin Donuts, and Firestone service station. The asset is currently 78% leased to a strong mix of national and regional tenants. The shopping center presents an attractive repositioning and leasing opportunity of the existing 61,000 square feet of vacant space, as well as the potential relocation of Pilgrim Furniture that would free up a significant block of space to attract a grocery store to the center. The addition of a grocery store to anchor the center, coupled with the center s location within a premier retail market will help drive leasing activity for the remaining vacancy in the center. In addition, Winstanley believes that enhancing the center s access by creating a cut-through in the main center and improving visibility with better signage will further enhance leasing velocity and improve each tenant s business. Page 1

3 AERIAL Page 2

4 LOCATION OVERVIEW DEMOGRAPHICS 1 mile 3 miles 5 miles 2015 Estimated Population 4,382 68, , Estimated Households 1,947 28,803 54, Est. Average Household Income $ 79,893 $ 76,964 $ 85,713 THE PLAZA AT BURR CORNERS 3 miles 5 miles Page 3

5 MARKET OVERVIEW The Plaza at Burr Corners is located just 9 miles east of Hartford with outstanding regional access via Interstate 84 (North-South) and Routes 291, 384 and 44 (East-West). The property features excellent access and visibility with an average traffic volume of over 133,000 vehicles per day on I-84, 23,000 vehicles per day on Buckland Street, and 18,000 vehicles per day on Tolland Turnpike. The Plaza at Burr Corners is situated in a densely populated trade area; approximately 133,600 residents with a median household income of $66,900 are within a five-mile radius of the property. Due in part to its strong demographics and the dynamics in the densely populated Route 291 & 384 corridors, Manchester is considered a top-tier market in Connecticut for retailers. Property Anchor(s) Size (SF) Distance 1. Save-A-Lot Shopping Center 425 Broad Street Manchester, CT 2. Stop & Shop 1739 Ellington Rd South Windsor, CT 3. Vernon Circle Shopping Center 295 Hartford Tpke Vernon Rockville, CT 4. Charter Oak Mall 940 Silver Lane East Hartford, CT 5. ShopRite Shopping Center Spencer St Manchester, CT 6. Tri-City Plaza 35 Talcottville Road Vernon Rockville, CT 7. Big Y Plaza Tolland Tpke Manchester, CT 8. Manchester Parkade Middle Tpke W Manchester, CT Save-A-Lot Supermarket 66, miles S Stop & Shop 57, miles N Stop & Shop, Kmart, Curtain & Bath Outlet 240, miles NE Stop & Shop, Big Lots, Burlington Coat Factory 225, miles SW ShopRite 83, miles S Price Chopper, T.J. Maxx, HomeGoods, Dollar Tree 259, miles NE Big Y 105, miles E Super Stop & Shop, Dollar Tree, Cinema 344, miles S Page 4

6 CURRENT SITE PLAN Page 5

7 PROPOSED SITE PLAN Page 6

8 CONTACT: Adam Winstanley Winstanley Enterprises, LLC 150 Baker Avenue Extension Concord, MA T: F: The Plaza at Burr Corners