801 Bridgeport Ave, Shelton, CT 06484

THE ASSET: Fountain Square, when fully completed, will consist of a 91,288 square foot shopping center positioned on 15.85-acres of land. The Property is leased to a mix of twenty-six (26) national and local retailers, and there are currently two (2) vacant units. The Property features a free-standing Trader Joe’s, Chick-fil-A (ground lease), Goddard School and Cava, a two-tenant building leased to Panera Bread with a vacant unit, two in-line retail buildings, one with fourteen suites and the other with seven suites, and a vacant pad site.

STRONG TENANT ROSTER: The Property is home to numerous national and regional tenants including Trader Joe’s, Chick-fil-A (ground lease), Panera Bread, Goddard School, Cava, Yale New Haven Urgent Care, My Eye Dr., Jersey Mike’s, Tropical Smoothie, Consumer Cellular, Sport Clips, European Wax Center, Club Pilates, Sugar Llamas, and Crumbl Cookies.

DYNAMIC ANCHOR TENANTS: Trader Joe’s is an American grocery store chain with more than 600 locations. Trader Joe’s’ 2025 estimated revenue is between $20- $25 Billion and leads the grocery industry with a remarkable SPSF of approximately $2,000, which is significantly higher than competitors like Walmart ($400) and Target ($300). Chick-fil-A generates more revenue per restaurant than any other fast-food chain in the country. Chick-fil-A continues to expand and now has more than 3,100 locations and system-wide sales grew to $22.746 Billion in 2024. Panera Bread has more than 2,230 locations in the United States and looks to continue to expand their footprint. The Goddard School is a leader in early childhood education and has more than 600 locations across the country. Yale New Haven Health Urgent Care currently has 21 centers in Connecticut, and New York, and continues to look for expansion options.

LONG TERM LEASES: The majority of the tenants in the center have new 10-year leases, and several have 15 or 20 year leases.

SCHEDULED RENT INCREASES: The majority of the leases call for scheduled rent increases throughout the primary lease terms and all of the leases call for rental increases at the start of each renewal option, providing an investor with an attractive increase in revenue and hedge against inflation.

MINIMAL MANAGEMENT RESPONSIBILITIES: All of the tenants in Fountain Square have net leases and reimburse their pro-rata share of all real estate taxes, operating expenses, repairs, and maintenance to the property, making it an attractive investment for the passive investor.

STRATEGIC RETAIL LOCATION: Fountain Square is extremely well located at the center of a busy retail, medical and corporate office corridor situated along Bridgeport Avenue between Route 8 and the Trapp Falls Reservoir in Fairfield County. The area is home to more than 5,000,000 square feet of corporate office and flex space, and numerous shopping centers with national retailers and restaurants, all of which drive traffic to the area. Shelton offers a captive employment market that provides a built-in customer base for the tenants in Fountain Square. The destination trade area serves the surrounding towns of Seymour, Ansonia, Derby, Monroe, and Trumbull, as well as travelers on CT Route 8, a primary commuter highway which sees more than 66,000 vehicles per day.

AREA ECONOMIC DRIVERS: Shelton’s attractive Fairfield County location balanced with lower costs of doing business, shorter commute times and lower cost of housing relative to other Fairfield County markets such as Stamford, Norwalk and Greenwich have made it one of southwestern Connecticut’s most sought after office and industrial markets. New office spaces and businesses were attracted to the town, due to its Fairfield County location coupled with low costs of doing business as opposed to places such as Stamford or Greenwich. Major firms such as Bic, BTX, Edgewell Personal Care, Tetley Tea, TIE Communication, I.T.T., Black and Decker, Sikorsky Aircraft, Gama Aviation, Chesebrough-Pond's, Tetra-Pak, General Electric, and Bunker Ramo. Over 2,000,000 square feet of corporate office space spread across 12 buildings was constructed by the R.D. Scinto corporation alone. Development has continued along the Bridgeport Avenue corridor with new construction shopping centers being developed, and older buildings being redeveloped to accommodate the growing list of national retailers and restaurants that line the street.

RETAIL TRADE AREA: Notable tenants drawing consumers to the trade area include Stop & Shop, ShopRite, Walmart, Big-Y, TJ Maxx, The Edge Fitness Club, Walgreens, CVS, Starbucks, Wendy’s, Bruegger’s Bagels, Five Guys Burgers, Duchess, Dunkin’, Wood N Tap, Chili’s, Longhorn, Chipotle, and Outback Steakhouse.

TRAFFIC COUNTS: Over 16,200 vehicles pass the Property every day along Bridgeport Avenue. An additional 66,000 vehicles pass the trade area daily on CT Route 8.

DEMOGRAPHICS: Approximately 35,200 people live within 3-miles of the Property with an average household income of $157,074. More than 129,000 people live within 5-miles of the Property with an average household income of $151,191. Additionally, there are more than 63,500 employees within 5-miles of the Property.