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100 N Water St
Norwalk, CT 06854
The Sono Collection · Retail Property For Sale
Investment Highlights
- 100% Ownership - Rare fee interest in Nordstrom and Bloomingdale's boxes
- One of the premier shopping locations in the Northeast
- New construction and limited capital needs
- Dominant regional mall with strong sales performance
- Luxury department store anchors with long-term operating covenants
- Affluent and dense trade area - nearly 384,000 residents and $235,027 average household income within a 10-mile radius
Executive Summary
JLL Capital Markets has been retained as exclusive advisor for a sale of the loan documents granting a first mortgage on The SoNo Collection (the "Property" or "SoNo"), a best-in-class regional mall located in South Norwalk, Connecticut. Anchored by Nordstrom and Bloomingdale's, the Property comprises approximately 738,800 SF of gross leasable area across 12 flat acres adjacent to Interstate 95 (100,000+ VPD). The Property's compelling tenant mix includes Apple, ZARA, H&M, Arhaus, Warby Parker, Sephora, Mango, and numerous other sought-after local and national retailers. At 86% occupancy, the Property presents an exceptional opportunity for a new owner to acquire a dominant retail destination at a compelling basis, while executing a thoughtful re-merchandising strategy to unlock embedded value across the remaining vacancy and Property.
Strategically positioned within hyper-affluent Fairfield County, the Property serves approximately 385,000 residents within a 10-mile radius earning average household incomes exceeding $235,000. Delivered in 2019, The SoNo Collection is among the newest regional shopping centers in the Northeast, featuring trophy-quality construction, high-end finishes, and a modern, functional layout. The Property's recent vintage translates to minimal near-term capital expenditure requirements, affording a new owner the ability to direct resources toward value-add leasing and merchandising initiatives.
The SoNo Collection represents a rare opportunity to acquire an irreplaceable, institutional-quality retail asset at a meaningful discount to replacement cost, with a clear path to value creation through strategic re-merchandising and compelling risk-adjusted returns for a new owner.
Strategically positioned within hyper-affluent Fairfield County, the Property serves approximately 385,000 residents within a 10-mile radius earning average household incomes exceeding $235,000. Delivered in 2019, The SoNo Collection is among the newest regional shopping centers in the Northeast, featuring trophy-quality construction, high-end finishes, and a modern, functional layout. The Property's recent vintage translates to minimal near-term capital expenditure requirements, affording a new owner the ability to direct resources toward value-add leasing and merchandising initiatives.
The SoNo Collection represents a rare opportunity to acquire an irreplaceable, institutional-quality retail asset at a meaningful discount to replacement cost, with a clear path to value creation through strategic re-merchandising and compelling risk-adjusted returns for a new owner.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
717,000 SF
Building Class
A
LoopNet Rating
5 Star
Year Built
2019
Percent Leased
98%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.30
Lot Size
12.67 AC
Opportunity Zone
Yes
Frontage
650’ on West Avenue
Amenities
- Freeway Visibility
- Property Manager on Site
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Kiosk/Cart Space
- Enclosed Mall
- Wheelchair Accessible
- Storage Space
- Car Charging Station
- Monument Signage
- Air Conditioning
- Smoke Detector
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