The Commercial
Real Estate Overview:
The Bridgeport & Fairfield Marketplace
3/1/2011
Presented By
Jon Angel, President
ANGEL
C O M M E R C I A L
L . L . C.
The Bridgeport Market
Notable Projects of Asset Growth & Development in Bridgeport
Bridgeport, Connecticut, considered a model municipal program for the country, is in the midst of a tremendous revitalization
via “Smart Growth” policies and brownfield reclamations. These developments and improvements to the commercial,
educational, residential and medical aspects of the city, along with city-wide economic development programs and
incentives, are attracting investments, new business, and national recognition.
Economic Development
 $17 Million Bridgeport ITC (Intermodal Transportation Center) Garage Development
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Recent additions to the infrastructure include a 500-space, two-floor parking deck completed in 2010; elevated
pedestrian walkway leading to Metro-North completed in 2008; and 17 bay bus terminal with overhead
walkways connecting to Metro-North and Amtrak platforms completed in 2007.
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1,500-car commuter parking facility linking downtown Bridgeport with the region via Amtrak, Metro North, water
ferries, airport limousines, inter and intra-city buses and taxis. Serves to limit highway congestion and offers
additional parking space for local events held at Harbor Yard.
 $55 Million Housatonic Community College Expansion
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The renovation of a Sears Roebuck department store served to double the size of the college, increase available
capacity and revitalize activity in Downtown Bridgeport.
Medical Sector Development
 Health Care Facility Improvements
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Record-setting $145 million expansion project at St. Vincent’s Medical Center, including development of a $50
million Elizabeth Pfriem SWIM cancer center which represents significant advancement in treatment of the
disease. The center offers diagnostic, treatment, counseling and related services in one building.
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Bridgeport Hospital undergoing $70 million in capital improvements across the 800,000 square foot facility, with
most recent improvements made to the Emergency Center.
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$40 million expansion and rehabilitation project to The Watermark at 3030 Park, a senior living and assisted-living
center.
The Bridgeport Market (cont’d)
Notable Projects of Asset Growth & Development in Bridgeport
Industrial Development & Energy
 United Rentals Relocation & Development
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Developed on a site idle since 1980, United Rentals’ newly built 40,000 square foot facility is now it’s largest in the
New England area.
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United Rentals is the largest equipment rental company in the world.
 Derecktor Shipyards
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Company expansion into Bridgeport, now occupying 23 acres of deep-water harbor property.
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The new facility has created nearly 400 new jobs.
 Bridgeport Energy Peaking Station
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Widely supported, new $200 million natural gas-fired electrical generating plant developed in the heavy
industrial zoned area of Bridgeport.
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The facility contributes to the long-term goal of assuring Bridgeport has the energy infrastructure to support
future economic growth.
Neighborhood & Residential Development
 Steelpointe Harbor Development
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52-acre mixed-use site located across the Pequonnock River from Downtown Bridgeport.
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2.8 million square foot build-out scheduled for construction to begin in Spring of 2011.
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Comprised of approximately 30% retail, 10% commercial/office and 10% hotel/conference space; a 250-slip
marina with super yacht capacity; and 1,000 - 1,500 residential units.
The Fairfield Market
Notable Projects of Asset Growth & Development in Fairfield
 Fairfield Metro Center
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Permitting for site work anticipated for Spring, 2011.
Planned footings for a 200,000 square foot building, which will include 165,000 square feet of office space and
35,000 square feet of retail space.
The CT DOT anticipates the opening of the new train station, including parking and bridge access, in September
2011.
 Kings Crossing Development
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Retail center of approximately 86,000 square feet on 10.8 acres, located directly off of I-95, Exit 23 (King’s Highway).
Anchor tenants include Whole Foods, occupying approximately 50,000 square feet, and CVS, occupying
approximately 13,000 square feet.
Several other retail tenants to be announced soon, pending their lease executions.
 Commerce Drive Recent Developments
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Commerce Drive is the home of several high-end automotive dealerships including Porsche, Audi, Mercedes Benz
and Smart Car.
A new Infiniti dealership is scheduled to open April 1st at 26 Commerce Drive, while Mercedes Benz has expanded
their dealership and will have a grand re-opening.
 Other Developments in Fairfield
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Relocation of “The Edge” Fitness facility from 665 Commerce Drive to 500 Kings Highway Cutoff ; new location
includes 40,000 square feet of gym space and a 4,000 square foot exercise studio.
The prior Shaw’s supermarket, located at 1975 Black Rock Turnpike, is under construction for renovations and will reopen as Shoprite.
$2MM renovations to 525 Tunxis Hill Road shopping center – approx. 39,000 square feet with 13 retail spaces.
Sportsplex of 85 Mill Plain Road, close to I-95 and Metro North, underwent renovations to the 6-acre, 120,000 square
foot building.
Brick Walk promenade in the downtown area was completed this past year.
Wings Over Water School of Swimming opened at 2221 Black Rock Turnpike (on lower level of Old Navy building),
featuring a 60’ x 25’ indoor pool.
Borders book store located at 1499 Post Road in Fairfield will remain active.