Listing Agency: Acorn Group Show Phone

Listed By: Michael DiMartino

Source: Moodyscre

Added: Aug 7, 2023 Changed: Jul 6 Last Checked: Jul 21 at 2:58AM

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Investment Insights

Based on property information with market context.

The Atwood is a mixed-use retail and residential building, completed in 2017, encompassing 90,000 square feet. It is part of the University Commons development in the Allingtown section of West Haven. Located less than 400 feet from the University of New Haven, the property is situated between the VA Medical Center and Yale-New Haven Hospital. The 15,000 square feet of retail space is suitable for restaurant and retail tenants looking to establish a business in a growing college town. The location benefits from a captive market due to its proximity to the university. The property is near six university dormitories within 1 mile. A new CVS is adjacent to the development. The Yale Bowl, Yale Baseball Stadium, and Connecticut Tennis Stadium are within 2.0 miles. The Oronoque housing development, Fieldstone Condos, Hopkins School, and Notre Dame High School are also nearby. All residential apartments within University Commons have been leased. Free parking is available on site. The available retail space measures 5,628 square feet. There are 15,000 medical professionals within 2.5 miles and a population of 135,000 within 3 miles.

Key Highlights

• Located less than 400 feet from the University of New Haven.
• Part of the University Commons development.
• 15,000 medical professionals within 2.5 miles (VA and Yale New Haven Hospitals).

Property Analytics

Property Profile

Current Use

USALLIANCE Financial Credit Union The Atwood Apartment Building Spice Venue Restaurant

Suggested Use

Top Pick Law Firm Real Estate Agency Spa & Massage Center Hair Salon Skin Care Clinic Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

$3.23 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

568

Businesses Nearby

95k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 67% Shops & Services 30% Apparel 2%

McDonald's Dining

28,985 visits/mo 0.4 miles

Dunkin' Donuts Dining

11,786 visits/mo 0.5 miles

7-Eleven Shops & Services

11,382 visits/mo 0.5 miles

Dairy Queen Dining

10,592 visits/mo 0.2 miles

Dunkin' Donuts Dining

10,276 visits/mo 0.3 miles

Market

Lease Benchmarks for W Haven, CT

$16.5 /SF/Yr

Avg Asking Price

$0.84–$25.85 /SF/Yr

Price Range

15,782 SF

Avg Space Size

This space is priced 30% above the average of $16.5 /SF/Yr.

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Mixed-use retail/residential building near the University of New Haven.

Where is this retail space located?

The property is located at 1 Atwood Pl W Haven, CT.

What is the lease rate?

The lease rate is $21.50 SF/Yr.

What are key features of this property?

This property features: Located less than 400 feet from the University of New Haven.; Part of the University Commons development.; 15,000 medical professionals within 2.5 miles (VA and Yale New Haven Hospitals).