New Canaan Portfolio

Cushman & Wakefield’s Capital Markets Group is pleased to offer for sale the New Canaan Portfolio, comprised of nine semi-contiguous sites totaling 1.68± acres at 0 and 179 Cherry Street, 21, 22-26, 32, 34, 35 and 39 Cross Street, and 22 Vitti Street in New Canaan, Connecticut.

The Portfolio is set within an established service business district of downtown New Canaan, a 6-acre area bound by Cross and Vitti Streets, that currently includes a broad range of professional, medical, personal and auto related businesses (40%± service-oriented businesses). The Town of New Canaan Planning & Zoning Commission commissioned an in-depth planning study of the commercial properties within this area, which was in response to the town’s Plan of Conservation and Development (“POCD”) that recommended studying the business portion of this downtown area further due to the increased interest in development in and around downtown. The addition to the POCD allows the Planning & Zoning Commission to put findings from the Cross & Vitti Street Master Plan (“Master Plan”) into zoning guidelines, incorporate design recommendations from the plan, and use the plan as a guide when handling special permit applications involving areas in the vicinity of the streets. The plan includes improving the streetscape and enhancing the character and beauty of the downtown area, increasing shared parking, and allowing for more mixed-use buildings that include a diversity of much needed downtown residences.

This downtown location is just steps from numerous upscale boutiques and national retailers, such as Ralph Lauren, J.Crew and Vineyard Vines, fine dining establishments and professional/service offices. The appeal of the area is further enhanced by its access to the area’s main transportation routes and the New Canaan Metro-North Train Station (0.5± miles).