west hartford storage

Feasibility study

The subject property is located within one of the most desirable upscale towns in the Greater Hartford marketplace. West Hartford has been transformed over the last twenty years and is considered “the place to be” by a mixture of young professionals who move to the community for the vibrant nightlife and proximity to Hartford. Additionally families are drawn to the town, given the nationally recognized school system. The subject property is located within the Elmwood section of West Hartford. The major commercial corridor traversing the neighborhood is CT RT 529 aka New Britain Avenue. The subject enjoys significant frontage along New Britain Avenue which has a traffic count of 20,100 vehicles per day. The site also has secondary frontage along South Street which has a traffic count of 6,900 vehicles per day, The site benefits from its location proximate to the CTfastrak busway located across New Britain Avenue at the intersection with New Park Avenue. The CTfastrak busway is a new $567,000,000 commuter transit route along the Amtrak rail line connecting New Britain and Hartford. This was designed and constructed to alleviate commuter traffic along I-84 located within 1.5 miles of the subject and spur transit oriented growth near bus-stop locations. Within the Elmwood neighborhood are located national retailers such as Home Depot, BJ’s Wholesale, Walmart, Aldi’s, Price Rite, Autozone and Pep Boys. Given the strict zoning controls within the town of West Hartford, it is likely that the Elmwood section is the only area in which self-storage could locate. There are only two other storage facilities in West Hartford, CT Self Stor, a highly successful regional operator who owns an existing facility along New Park Avenue and U-Haul, an old converted industrial facility on the Newington town line, south of the subject with a “walk-up” second level.