Century Plaza

Highlights:

• Well-Positioned, 91% Occupied Retail Center | Upside Available Thru Lease-Up of Vacant Space
• Attractive Tenant Roster with Majority of Tenants Operating Since the Property was Built
• Out Parcels Included in Sale: Free-Standing KFC w/ Drive-Thru and Free Standing Monro Muffler
• Strategically Located Between Two Major Hospital Systems; Waterbury Hospital, a 357-Bed Hospital Just 0.6 Miles Away and St. Mary's Hospital, a Yale-Affiliated 347-Bed Urban Hospital Just 1 Mile Away
• Located at the T-Intersection of W. Main St and Thomaston Ave (40,400 VPD+)
• Dense Residential Infill Location | 65,911 Residents within 2 Miles
• Average Household Income within 5 Miles Exceeds $76,648
• Waterbury is 33 Miles SW of Hartford and 77 Miles NE of NYC

Description:

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Waterbury is a city in the state of Connecticut with a population of 114,403 as of the 2020 Census. The city is 33 miles southwest of Hartford and 77 miles northeast of New York City. Waterbury is the largest city in the Naugatuck Valley Planning Region and second-largest city in New Haven County. The city is alongside Interstate 84 (Yankee Expressway) and Route 8 and has a Metro-North railroad station with connections to Grand Central Terminal. Waterbury is also home to Post University and the regional campuses of the University of Connecticut, University of Bridgeport, Western Connecticut State University as well as Naugatuck Valley Community College.

Throughout the first half of the 20th century, Waterbury had large industrial interests and was the leading center in the United States for the manufacture of brassware (including castings and finishings). Waterbury, known as the "Brass City," offers a vibrant blend of historic architecture with a classic New England twist.

The city has transformed to meet the needs of residents and visitors alike, featuring centralized shopping centers, family-owned restaurants, and unique activities. The historic Palace Theater is a must-visit, having undergone a large renovation and hosting hundreds of shows and events each year. The Mattatuck Museum offers art and regional history exhibits, with a focus on the history of the Naugatuck Valley and Connecticut artists. It added 6,000 square feet for new exhibition spaces and a rooftop lounge in 2021, and is estimated to bring an additional $1 million annually to the local economy. The largest commercial building in Downtown Waterbury has been reimagined by Post University as its Online Education Hub. The five-story structure that was once the famous Howland-Hughes Department Store includes a massive lobby regularly used as a great community gathering space – holding events like local artist exhibitions and holiday extravaganzas.

Waterbury’s downtown, with its mix of historic architecture surrounding a classic New England Green, is undergoing a renaissance. In 2014, the State of Connecticut awarded a multi-million dollar grant to the City of Waterbury for furthering its Waterbury NEXT strategy. The plan consists of six comprehensive initiatives to further revitalize Downtown through public/private partnerships – including mass transit improvements, building renovations, apartment creation and infrastructure modernizations. Several of the initiatives have already led to successful economic development projects.