Featured Property of the Month: Colliers International secures leasing of 110,000 s/f Wintonbury Mall in Bloomfield

Wintonbury Mall - Bloomfield, CT

Bloomfield, CT West Coast Investments, Inc. has acquired the Wintonbury Mall. This acquisition will add to their 30+ property portfolio, which they have developed and manage. Their portfolio also includes multifamily housing and shopping centers.  Since November of 1996, West Coast Investments, Inc. has purchased, rehabilitated and sold more than 30 projects. Their specialty niche is in value-added, where they can turn around a property quickly and efficiently in order to realize its best use, while benefitting from their abilities and experience.  Their vision for Wintonbury Mall includes many upgrades and renovations to the existing mall, with plans including a freshly painted facility complete with new signage and lighting.  Tenant improvements are also planned, and have already begun to increase the appeal of this landmark property.

Wintonbury Mall is centrally positioned on 9 acres, with approximately 425 parking spaces to complement their tenant amenities. The property is located at the signalized confluence of multiple streets in the downtown area.  It is strategically located close to the U.S. Post Office, Bloomfield Town Hall, and the town library. The mall is also in close proximity to CVS, Rite Aid and Webster and Bank of America, as well as the offices of both Cigna and Met Life Insurance.  In addition, it provides easy access to both I-91 and I-84.

Colliers International has secured the leasing of Wintonbury Mall, located in Bloomfield, Connecticut. This multi-use, retail and office space is an 110,000 s/f complex centered in the heart of Bloomfield’s Central Business District. It occupies an entire block with six single-story buildings.  Five are contiguous and covered by walkways. The sixth building is a free-standing Bank of America Branch location.  The largest tenant includes the Bloomfield Digiplex Movie Theater, which occupies 21,800 s/f.  The tenant roster includes high-end restaurants Carbone’s Ristorante and Ginza Japanese Restaurant, TCBY and H&R Block.

Bloomfield is an upper middle income community in Hartford County, with a total population of 21,000.  It is bordered by Windsor and East Granby to the north, Simsbury and Avon to the west, and West Hartford and Hartford to the south and the Connecticut River to the east. There are approximately 36,000 people within a 3-mile ring.  The town has approved and is moving forward with additional housing to be broken up in a phase I and phase II.  There are 215 apartment units breaking ground this summer, slated for opening in the fall of 2017.  The second phase of 175 apartment units will follow. These will be constructed in the town center that is directly opposite of  Wintonbury Mall, creating a denser population and thus creating a key component of a plan for comprehensive redevelopment that is mixed use and will create varieties of ancillary retail and services important to the residents of Bloomfield. This will include additional need for medical services, restaurants and office space.

West Coast Investments’ owner has been able to maintain the majority of tenants that are already in place.  There is presently 9,500 s/f of retail yet to lease, with an endcap that could be subdivided as well as being used for a drive-thru opportunity.  Office space ranges from 400 s/f to 6,250 s/f.  All of these offices can be reconfigured to meet the requirements of any tenant that is interested. The leasing velocity has been strong with new tenants joining this new project. The conversion of the grounds and the renovations in total are designed to reposition this property as a high end mixed-use, office and retail destination.