Shops Under Target 7 Broad Street, Stamford, CT

Shops Under Target
7 Broad Street,
Stamford, CT
PROPERTY HIGHLIGHTS
Located less than one mile from the Stamford Amtrak train station, which is a 45-minute train ride from NYC.
Shops Under Target is a 16,000 SF ground floor retail condominium located in downtown Stamford, CT. The Property was
constructed in 2004 and consists of four retail suites, which can be further subdivided. Currently, the Property’s only tenant, is Citi
Bank.
•
Strong Submarket: The demographics in the area are strong with a population of over 170K, and an average HH income of
over $140K within a 5-mile radius. The submarket retail vacancy is tight at 2.9%.
•
Competitive Area with Growing Demand Drivers: The Property is situated below Target and located near some of the most
significant recent developments such as Courtyard by Marriott, Trump Parc Residence as well as the University of Connecticut.
In addition, the property benefits from being in proximity to Summer St., one of the most desired restaurant destinations in
Stamford. Stamford Downtown has over 800 residential units under construction, which will be delivered by the end of 2017 in
addition to over 400 units already completed in 2014. Notable nearby developments include The Summer House, a 222 unit
high-end residential building, which will be completed this year.
REGIONAL LOCATION
SUBMARKET LOCATION
Market Summary
Market
Retail Submarket
Immediate Area
Demographics
Market Rent
Stamford $31.54 PSF
5 Mile $35.00 PSF
Population
Median HH Income
Traffic Counts (Vehicles Per Day)
Broad Street
Washington Blvd
1 Mile
41,742
$82,738
3 Mile
131,055
$120,684
•
The Property is located less than one mile from the
Stamford Amtrak train station, which is a 45-minute
train ride from NYC. Daily traffic counts at Broad
Street and Washington Blvd are estimated to be 18K
and 52K, respectively.
•
The demographics in the area are strong with a
population of over 170K (average of 5% increase year
over year), and an average HH income of over $140K
within a 5-mile radius. The submarket retail vacancy is
tight at 2.9%.
•
The Property is situated below Target and located near
some of the most significant recent developments such
as Courtyard by Marriott, Trump Parc Residence as well
as the University of Connecticut. In addition, the
property benefits being in proximity to Summer St., one
of the most desired restaurant destinations in Stamford.
Vacancy
2.90%
5.00%
5 Mile
176,241
$141,380
17,600 VPD
52,238 VPD
Tenant Roster
Tenant Name
Vacant - Restaurant
Vacant
Vacant
Citibank
Total Occupied
Total Vacant
Total
SF
7,178
2,550
1,727
4,545
4,545
11,455
16,000
%
44.9%
15.9%
10.8%
28.4%
28.4%
71.6%