Century Plaza
LONG-TERM ANCHORED NEIGHBORHOOD CENTER WITH EMBEDDED RENT GROWTH
Marketing description
Century Plaza at 649 W Main Street, Waterbury, CT is a rare opportunity to acquire a high-performing neighborhood retail center in one of Connecticut’s most established infill markets. This 36,680 SF center is 91% occupied and anchored by long-term national tenants including Walgreens, Advance Auto Parts, KFC, and Monro, delivering durable cash flow and built-in stability.
Positioned on 4.23 acres at a signalized hard-corner intersection, the property benefits from outstanding visibility, multiple access points, prominent pylon signage, and traffic counts exceeding 40,000 vehicles per day. The offering also includes two fee-simple, income-producing outparcels occupied by KFC and Monro. Investors are presented with immediate upside through contractual rent increases and lease-up of the remaining 3,150 SF vacancy, creating embedded NOI growth from day one.
The center is strategically located just east of downtown Waterbury, near Interstate 84, major retail corridors, and between two regional hospitals, further reinforcing daily consumer demand. With strong national credit tenancy, a proven operating history, and a prime hard-corner location in Connecticut’s fifth-largest city, Century Plaza offers an attractive blend of stability, visibility, and future growth.
Investment highlights
- Long-Term Anchored Center - Many Tenants have been in place since the property's inception, demonstration strong historical occupancy and stability
- National Credit Tenancy - Anchored by Walgreens, Advance Auto Parts, KFC and Monro Muffler - all recognized national brands
- Embedded NOI Growth - Upside available through lease-up of vacant space and contractual rent increases
- Two Fee-Simple Outparcels - Free-standing KFC with drive-thru and Monro Muffler included in the sale
- Strategic Location - Situated between two major hospital systems and at the intersection of W. Main St & Thomaston Ave (40,400+ VPD)
- Strong Demographics - Dense residential infill location with household income exceeding $76,000 within 5 miles
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