Choyce Peterson, Inc. successfully brokered the sale of a fully leased, 2,619 square foot retail building at 525 Tunxis Hill Road, Fairfield, CT. Representing owner 525 Tunxis Hill Rd LLC (Ken and Sharon Doughty), the Choyce Peterson Capital Markets team led a competitive sale process resulting in a closing price of $888,888. The buyers, local investors Scott and Eva Howes, add this asset to their growing portfolio of retail properties in Fairfield County. This transaction exemplifies disciplined marketing, strategic positioning, and strong investor demand for well-located retail real estate in Fairfield.
Marketing Strategy and Positioning
Choyce Peterson’s Capital Markets team delivered a multifaceted marketing campaign. Outreach targeted both active local investors and the broader retail investment community. The property was featured across multiple listing services and strategically promoted on social media. High-impact signage at the busy intersection of Tunxis Hill and Old Stratfield Roads maximized visibility. This approach generated substantial interest and multiple competing offers, underscoring the strong demand for small-format, leased retail assets in Fairfield.
Client Testimonial
“Scott and Charlene executed a well-planned marketing campaign that produced competing offers. We’re confident Choyce Peterson found the right buyer at the right price and are pleased with the results of this sale.”
— Ken and Sharon Doughty, Sellers
“We are thrilled to have seized the opportunity to invest in retail property in Fairfield and get a great tenant such as In Higher Spirits. Not only are we committed to taking good care of this property in the years to come, but we intend to renovate the building in the very near term and even add a second floor with two high-end apartments.”
— Scott and Eva Howes, Buyers
Sale Details
- Broker: Choyce Peterson, Inc. – Scott Peterson and Charlene O’Connell, Vice Presidents
- Total SF: 2,619
- Sale Price: $888,888
- Price per SF: $339.43
- Asset Class: Single-Tenant Retail
- Buyer: Scott and Eva Howes
- Seller: 525 Tunxis Hill Rd LLC (Ken and Sharon Doughty)
- Number of Units: 1 (single tenant)
- Lot Size: .27 Acres
- Year Built: 1950
Property Summary: 525 Tunxis Hill Road
- Address: 525 Tunxis Hill Road, Fairfield, CT
- Stories: 1 (with plans to add a second floor)
- Building Type: Standalone Retail
- Key Features:
- Fully leased to In Higher Spirits
- Prominent corner at signalized intersection
- Proximity (<2 blocks) to major grocery anchors (Stop & Shop, ALDI)
- High visibility with frontage along main road
Tunxis Hill Road: Neighborhood Overview
- Stop & Shop (760 Villa Ave) – Full-service grocery, key driver of daily traffic
- ALDI (340 Grasmere Ave) – Discount grocery, attracts value-oriented shoppers
- Tunxis Hill Shopping Center (500 Tunxis Hill Rd) – Neighboring retail complex, complementary traffic
Nearby Restaurants
- Joanne’s Table (591 Tunxis Hill Rd) – Popular spot for upscale Italian dishes and drinks, as well as desserts, served in a cozy atmosphere.
- Chip’s Family Restaurant (525 Tunxis Hill Cutoff) – Long-running local chain serving breakfast & classic American fare for lunch in a casual, old-school setting.
- Esh Fairfield (1401 Kings Hwy) – Contemporary Mediterranean cuisine served in chic surroundings.
Nearby Hotels
- Hotel Hi-Ho (4180 Black Rock Tpke) – Modern hotel offering comfortable rooms with easy access to the Merritt Parkway, as well as I-95 and the Metro-North train station.
- Best Western Plus Fairfield (100 Kings Hwy Cutoff) – Low-key lodging offering complimentary Wi-Fi & breakfast, plus a fitness center, all within a short drive to I-95 and the Merritt Parkway.
Conclusion
The successful sale of 525 Tunxis Hill Road demonstrates the enduring appeal of well-located retail assets in Fairfield. Through targeted marketing, Choyce Peterson maximized value for the sellers while enabling the buyers to expand their retail portfolio and pursue value-add renovations. The transaction adds momentum to the local retail investment market and points to continued demand for similar properties.
Frequently Asked Questions (FAQs)
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- What was the tenant mix in this center?
The property is 100% leased to In Higher Spirits, a single retail tenant. - What made this location attractive to retail investors?
Its proximity to major grocery anchors, visibility at a signalized intersection, and stable tenant attracted investor interest. - What types of businesses perform well in this center?
Daily-need retail and specialty shops benefit from high traffic and strong neighborhood demographics. - How did the marketing strategy impact the sale timeline?
A robust, multichannel approach generated multiple offers, leading to a competitive closing.
- What was the tenant mix in this center?
- What’s the long-term upside for the buyer?
Planned property renovations and the addition of high-end apartments will enhance value and income potential.
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