Goddard School
Retail | 6.75% CAP | 10,413 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to acquire a new construction Goddard School located at 749 Bridgeport Avenue in Shelton, Connecticut (the “Property”). The Goddard School is a pad site within Fountain Square, a new construction shopping center that consists of a 91,288 square foot shopping center positioned on 15.85-acres of land. Other notable tenants within Fountain Square include Trader Joe’s, Panera Bread, Yale New Haven Health Urgent Care, My Eye Dr., Chick-fil-A, Cava, Jersey Mike’s, Tropical Smoothie, Consumer Cellular, Sport Clips, and Crumbl Cookies.
The Goddard School is extremely well located at the center of a busy retail, medical and corporate office corridor along Bridgeport Avenue between Route 8 and the Trapp Falls Reservoir in Fairfield County. 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 serving over 66,000 vehicles per day. Fountain Square is surrounded by high-end office buildings with a captive employment base, national retailers and restaurants, and luxury apartment communities that drive traffic to the immediate area.
Investment highlights
NEW CONSTRUCTION: The new construction Goddard School is situated inside the newly constructed Fountain Square and includes a modern design and an extensive outdoor area with multiple play areas corresponding to classrooms.
LONG-TERM LEASE WITH INCREASES: The Goddard School has 19 years remaining on their primary lease term with three (3), 5-year renewal options. The Lease calls for attractive rent increases every 5 years throughout the primary lease term providing the investor with an attractive increase in revenue and hedge against inflation. Rent in each renewal option shall be set to Fair Market Rent.
MINIMAL MANAGEMENT RESPONSIBILITIES: The Goddard School reimburses its pro rata share of real estate taxes, insurance and common area maintenance, making it an attractive investment for the passive real estate investor. The Goddard School also reimburses for Capital Repairs.
DYNAMIC CORPORATE TENANT: Goddard Systems, Inc. (“GSI”), the franchisor of The Goddard School, is consistently named one of the top childcare franchises in the United States by Entrepreneur magazine and one of the Top 200 Franchise Systems (in worldwide sales) by Franchise Times. The Goddard School franchise currently licenses more than 650 franchised Schools with more than 100,000 students in 38 states.
PRIME RETAIL LOCATION: The Goddard School 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.
CORPORATE OFFICE CORRIDOR: Notable corporate tenants include Prudential Financial, CDW, United Healthcare, Robert Half, Barnum Financial Group, Sectra North America, Tetley USA, Baldwin Technology, Black & Decker, BIC Corporation, Playtex, Perkin Elmer and Pitney Bowes.
RETAIL TRADE AREA: Notable tenants drawing consumers to the trade area include Stop & Shop, ShopRite, Walmart, Big-Y, Trader Joe’s, TJ Maxx, The Edge Fitness Club, Walgreens, CVS, Starbucks, Chick-fil-A, Cava, 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.
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