The Shoppes At Fox Run Glastonbury CT Step

The Shoppes At Fox Run Glastonbury, CT Step 1: Location Analysis and Subject Site Productivity 5 team members This version has comments by Prof. Clapp – in notes section below and in several slides and at the end.

Property Overview • Site Address: 25 -55 Welles Street, Glastonbury, CT • Built in 1974 - Redeveloped in 2008 • Gross Leasable Area: 108, 785 SF • Total number of units: 31 • 3. 84/1, 000 SF parking ratio

Thesis • • • The Shoppes at Fox Run in Glastonbury, Connecticut benefit from a redeveloped property, successful anchor tenants, and affluent local consumers. Its success may be limited by thinner population densities to the South and East, and restricted access to residents West of the Connecticut River. There are opportunities for growth by filling vacancies, improving ingress and egress turning, and enhancing signage.

Summary of Findings • Good physical condition: site was redeveloped in 2008 • Successful anchor retailers: Whole Foods and Petco • • Glastonbury population: 34, 372 Affluent area: o Median income: $103, 923. 30 percent have income over $150, 000 or more.

Summary of Findings • • The majority of the surrounding population lies to the North and West of Fox Run o Residents to the North (Hartford, East Hartford, Manchester) have easy access via Interstate 84, which connects to Route 2 o More difficult for those coming from the West (Wethersfield, Rocky Hill) because of the CT River Traffic: good traffic flow o 65, 000 to 70, 600 ADT on CT Route 2 o 13, 400 ADT on Main St. Which intersects Welles St. o However, Welles St. is not a main road in

Summary of Findings • • • Ingress and Egress: o Several points of Ingress/Egress available, but they lack dedicated turning lanes Vacancy: o 5 of the 31 units available for lease Signage: o Will be further investigated at site visit to determine if improvements can be made in accordance with zoning regulations

Maps and Aerial Views

Pictures

Pictures

Average Daily Traffic • DOT: 65, 000 to 70, 600 ADT o • Co. Star: Route 2 - Approximately 65, 000 ADT EB to the House Street cross o • • • Route 2 EB to Hebron Ave. (exit 8) House St. to Hebron Ave. to New London Turnpike Hebron Ave. (Route 94): 21, 100 Main Street : 13, 400 New London Turnpike: 10, 300

Linkages • 0. 4 miles off of exit 8 on Route 2 • 0. 5 miles from Route 17 - Glastonbury Expressway • • Glastonbury Expressway branches into Main St. which runs through Glastonbury Under 10 minutes access to Interstate Highways 84 and 91

Linkages • Highest population density is to the North of Fox Run East Hartford: Pop: 51, 000; Med. Income: $50, 585 o Hartford: Pop: 124, 775; Med. Income: $33, 363 o Manchester: Pop: 58, 241; Med. Income: $62, 435 o • Easy access to Fox Run via Interstate 84 and Route 2, but the area is not as affluent and Fox Run may be an unnecessary trip with closer options in the Hartford metro area

Linkages • • Lower population to the South and East of Fox Run o East Hampton: Pop: 12, 959; Med Income: $104, 765 o Portland: Pop: 9, 508; Med. Income: $93, 438 o Marlborough: Pop: 6, 404; Med. Income: $112, 665 o Hebron: Pop: 9, 686; Med. Income: $107, 807 Highly Affluent area, but thinly populated

Linkages • • • The Connecticut River is less than a mile West of the subject site o This will have restricting effects on the trade boundaries Residents of Wethersfield (Pop. 26, 668; Median Income: $72, 041) do have access to Fox Run via CT Route 3, which crosses the CT River and connects with Route 2 Travel to Fox Run is limited for residents of other towns West of the CT River

Mass Transit • • Accessible by CT Transit buses o Bus stop on the corner of Main and Welles St. o Bus service appears to be limited for those traveling from the Hartford metro area due to service intervals. o Also, difficult for bus riders coming from the Hartford area to get a direct trip, would likely have to switch buses Hartford-Brainard Airport o 8 miles from Fox Run o Freight airport

Ingress and Egress • Grove St. , Welles St. , and New London Tpke. all 2 -lane roads with no stoplights in the vicinity of the shopping center • Pedestrian crosswalks along Welles St.

• Traffic on New London Tpke. turning onto Welles St.

Signage

• • • Overall, there a good number of signs, especially for the anchor tenants But the signs are small and seem to blend in with the scenery (but also seem to fit the style of shopping center) No sign on Grove St.

Sign Zoning • Wall signs: permitted for each business located on 1 st floor. o Maximum Area =. 8*main entry wall length o Signs on the same building must be coordinated (type, height, placement, illumination) • • Ground signs: property with more than 4 businesses may use a sign up to 32 sq. ft. o Must be in front yard or within 25 ft. of driveway if a tenant directory sign o Must be less than 10 ft. tall o May use direct, indirect, or no illumination The Shoppes at Fox Run have installed 3 ground signs; We will investigate this further at Town Hall.

Retailers Sq Ft Whole Foods 46, 400 Natural Nails & Spa 1, 800 Bangkok Spice 2, 300 Nana's Infant & Children Boutique 2, 200 AVAILABLE 2, 200 PNC Mortgage 1, 500 State Farm Insurance 1, 400 Super. Cuts 1, 500 Foxy Pizza 1, 500 Radio Shack 2, 000

Retailers Sq Ft Fox Run Psychiatric Associate 625 AVAILABLE 308 Transitions 850 A Better Image 369 Natural Health & Chiropractic 1, 062 Betsy Friedman, M. S. W. , RD 700 Smiles for the Future 3, 880 Law Offices of Ralph A. Russo 700 AVAILABLE 1, 669 Karl and Gelb, D. D. S 912

Availability • Total Space (GLA): 108, 627 • 5 Spaces Available for Lease o • 7, 064 sq ft total Space available: little more than 6%

Major Tenants • Whole Foods: 46, 400 SF o • At location for over 5 years Petco: 10, 840 SF

Demographics Population Households Avg HH Income Demographics source: AGS 2012 A Estimates 3 mile 41, 119 17, 269 $82, 117 5 mile 159, 259 62, 236 $73, 938 7 mile 328, 012 130, 044 $68, 340

Economic Overview Glastonbury Connecticut United States 5. 40% 8. 60% Recent Job Growth 0. 52% -0. 49% 0. 35% Future Job Growth 35. 64% 30. 62% 32. 10% Sales Taxes 6. 00% 6. 35% 5. 00% Income Taxes 5. 00% 5. 0% 4. 70% Income per Cap. $48, 946 $35, 917 $26, 154 Household Income $96, 507 $67, 474 $50, 935 Unemployment Rate Source: Best. Places. net

Zoning Map Source: Town of Glastonbury (glasct. org)

Zoning http: //gis. glastonburyct. gov/ceo/find. aspx? service=Glastonbury_All_ Data

Zoning Regulations • • CD - Central District Allows for more overall development o • • In comparison to Planned Business and Development (PBD) Zone All property aspects (building/dwelling size, height, etc. ) o Contingent on requirements of Urban Renewal Plan Must establish Plan of Development before building any structure within CDZ o Includes any alterations to existing structures Source: http: //glasct. org/Modules/Show. Document. aspx? docum entid=8145

Pros and Cons • Pros Successful anchor retailers o Good condition (Redeveloped in 2008) o Heavy traffic volume on Route 2 and decent volume on Routes 3 and 94 o Large population (esp. 7 -mile) since close to Hartford o • Cons Signs are small o Relatively small parking ratio (3. 84/1, 000 SF) o

Works Cited • http: //www. centrowatt. com/Single. Page. Flier. asp? Project. ID=PCTFOXRN 1 • http: //www. brixmor. com/Leasing. Brochures/1388. pdf • http: //www. bestplaces. net/economy/city/connecticut/glastonbury • http: //brixmor. com/Demographics/Drive. Time/1388. pdf • http: //gis. glastonbury-ct. gov/ceo/find. aspx? service=Glastonbury_All_Data • http: //www. bestplaces. net/economy/state/connecticut • http: //glasct. org/Modules/Show. Document. aspx? documentid=8145

Additional Comments by Prof. Clapp • Photos of the center – condition of buildings, • • parking lot and signage. Many signs in CT are flat against the building – sometimes effective, other times lost to most visitors. Which tenants are listed on the signs? Most shopping centers depend on the anchors to draw people in, then the smaller tenants are discovered by repeat shoppers. Would this be the case for your Center? Vacancy at the site.

Still More Comments by Prof. Clapp • Visibility of the site. • Zoning, including how that limits any • • redevelopment. Access to the site could be a limiting factor as suggested by Google Street View. A visit during a heavy shopping time, such as Saturday, would help figure this out. This could be part of Step 3, bag count. Frequency of bus service needs to be checked.