Prime Development Site 189 Danbury Rd., New Milford, CT

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1 Prime Development Site 189 Danbury Rd., New Milford, CT 107,000 SF Shopping Center Fully Approved Ready For Building Permit Asking Price: $4,800,000 ($362k/acre) FOR FURTHER INFORMATION CONTACT GARETT PALMER OR MARC LANE 2A Ives Street., Danbury, CT Phone Fax or ALL INFORMATION IS FROM SOURCES DEEMED RELIABLE AND IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL, PRIOR SALE AND WITHDRAWAL WITHOUT NOTICE.

2 13.25 Acres B-1 Zone 107,000 +/- SF Approved Shopping Center With Lighted Intersection 780 Feet of Frontage 25,000 +/- Cars Per Day Great Visibility Drive by Traffic Located across from Walmart and Super Stop & Shop Demographics 5 MILES 10 MILES 20 MILES Population 33, , ,373 Avg. HH Income $102,071 $101,556 $95,498 % College Grads 40.7% 40.3% 38.6%

3 Highlights Local Market Retailers: The following is a list of selected national retailers within 1.5 miles of the site: - Wal-Mart, Super Stop N Shop, TJ Maxx, Staples, Big Y, Target, Rite Aid, Home Depot, Taco Bell, McDonald s, KB Toys, Subway, Radio Shack Existing Store Base is Successful: Big Y & Super Stop N Shop have both invested in major expansion projects in the market. This was the third such expansion for Big Y in the last 5 years. Roadway Expansion: Route 7 has been expanded from two lanes to four lanes to facilitate economic growth and traffic. At several intersections there are also dedicated turn lanes. Major Traffic Route: Over 70% of the labor force in the New Milford market drives over 15 minutes to get to work. Route 7 is the road that is used. Favorable Demographics: New Milford benefits from an educated population with a third of the adults having a college degree or higher and an additional one third with at least some college. The average household earns over $85,000 per year, and approximately two-thirds of the population is between the ages of 20 to 65 years old. Business Environment: The Route 7 expansion was initiated to promote economic growth. Several zoning rules are being revised to make New Milford more accessible to additional large big-box retailers. Affluent Weekend Residents & Unique Location: New Milford is a hub. There are thousands of affluent people with second homes all over Litchfield County, although they do not appear in the census data. Route 7 is the only route for these people to get to the next closest shopping areas which are much further away in Danbury or Brookfield. With the expanding retail base in New Milford, the residents and weekend residents will stay in New Milford to shop. Stable Economic Base: There are over 12,000 workers in New Milford alone. The employer base is strong with companies like Kimberly Clark employing 1,200 people. The Columbia-Presbyterian New Milford Hospital also employs almost 600 workers and is a regional medical hub.

4 Why New Milford? Here are the reasons that make New Milford an excellent retail location: 1. Traffic Pattern Makes New Milford a Hub Northwest Connecticut was carved into a region of ridges and river valleys when the glaciers receded. That created a transportation grid that followed the river valleys north and south because the ridges and rivers made it difficult to go east and west. As a consequence, all opportunities to go East/West tend to converge at the few locations available to cross the Housatonic River. The North/South roads are widely separated by the same ridges and rivers. The major North/South routes in this region are Route 7, which is flanked by Route 22 to the West in New York, and Route 8 to the East in Connecticut. Between Route 22 and Route 8, Routes 7/ 67/ 133/ 109/ 202/ 55/ 37/ and 39 all converge on New Milford to cross the Housatonic River at Veterans Bridge. It is very hard to go to or from anywhere, for about a twenty mile radius, without using this bridge. The result is a traffic count of 25,000 + cars per day, and a commercial area that draws from a 20 mile radius. The two largest employers in New Milford, Kimberly Clark and Med Instill, provide evidence of this fact. Over 50% of their employees come from New York State along the Route 22 corridor between Pawling and Amenia. These employees not only work in New Milford, but they shop here. This is evidenced by the fact that two grocery chains (Big Y and Stop & Shop) have both recently invested in major expansions of their New Milford stores. Over the last few years, several brokers, representing other grocery chains have attempted, without success, to find sites in New Milford to locate such chains as Shaws, Victory, and A&P. In addition, Home Depot, Wal-Mart, T.J. Maxx, Staples, Advance Auto and Rite Aid have all recently moved into New Milford. 2. Growth Factors Westchester County and Fairfield County are very highly built out, both residentially and commercially. There are few, if any, good sites left, and those that exist are very expensive. This has created a push north along the 684/ 84/ 7/ corridor to New Milford and the surrounding towns for both residential and commercial growth.

5 3. Residential Growth Northwest Connecticut is the fastest growing part of Connecticut. It allows young families an opportunity to get more house for the money and still be able to commute to the major job centers of Fairfield and Westchester Counties. If the American Dream is a four bedroom, 2 ½ bath colonial on 1 or 2 acres of land; it costs $1,000,000 in Greenwich, $700,000 in Ridgefield, but $350,000 - $500,000 in New Milford. New Milford is bursting with young couples with children, earning $100,000 to $150,000 who moved here for the housing and school system. Goodfellow Ashmore CORFAC International New Milford is geographically the largest town in the State (64.4 square miles). Under the current plan of conservation and development New Milford is destined to become a small city of 60,000 plus. With the building of a new four lane Route 7 from Danbury to New Milford, which began in September 2002, the town s growth is rapidly accelerating. New Milford is poised for even greater growth. The model of what New Milford s growth rate will be like demographically over the next 10 years, is Danbury, Connecticut, which doubled in size in the 10 years following the building of I Retail Growth The Route 7 corridor in New Milford is designated by the State as a high growth corridor and is targeted for commercial/ industrial development. To that end, the lower portion of Route 7 is being built with a center median to discourage retail and encourage industrial growth while the northern two-mile stretch is being built without a median and is designed for retail development. This strip will grow to resemble Federal Road in Danbury. Industry is expanding and moving into New Milford. My Boy Sam, a children s clothing company, has renovated the historic Flatiron Building, downtown, to house their headquarters and design facility. Scientech moved in with 100+ high tech employees and Nestles has announced a $27,000,000 expansion program for its New Milford research facility. All are located near the Route 7 corridor. This includes Kimberly Clark, who has had a manufacturing plant and distribution center in New Milford since the 1960 s.

6 They currently have 1,200 employees working in the New Milford facility. A key reason to develop retail in New Milford is that there are very few good retail sites left. Every one of them is in play and once they are gone, these sites will hold all the major players and there will be no place for new competitors to enter the market. This means that those that commit will: 1. Place themselves in the path of growth 2. Assure a location with limited competition 3. Enjoy the relatively low current cost of entry Finally, the actual or potential existence of Big Box entities to the North (Torrington) and to the South (Danbury, Brewster) will have virtually no impact on a similar operations located in New Milford / Route 7. The local residents and those people, who travel to New Milford for work, (those within the mile radius of Veteran s Bridge) prefer not to leave the area and travel to a different town or environment for their shopping needs.

7 Regional Map

8 Local Map

9 LOCAL MARKET RETAILER OVERLAPS As the map below shows, the recent investments in New Milford by Home Depot, Wal-Mart, Staples, & TJ Maxx demonstrate that the New Milford retail market is separate and distinct from the Danbury / Brookfield markets. Danbury Brookfield New Milford Home Depot Staples Home Depot Staples TJ Maxx Staples Subway Subway Super Stop & Ship Wal-Mart Super Stop & Shop TJ Maxx Wal-Mart

10 New Milford Radius Map

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