Commercial Real Estate News
Hyundai Drives into Fairfield, Connecticut
Fairfield, CT – September 15, 2011 – Jon Angel, President of Angel Commercial L.L.C., announced the sublease of 16,000 SF of retail space at 2243-2269 Post Road to a new Hyundai Dealership, franchised to D&D Auto L.L.C, a partnership comprised of multiple brand regional dealerships including Ford, Lincoln, Mazda, Volkswagen, and Hyundai.
Hyundai is expanding its Connecticut presence, having granted D&D Auto the franchise rights to serve the Fairfield area population with vehicle sales and service. “Hyundai is one of the fastest-growing car brands. As the brand becomes accepted by more people, we see Fairfield as a huge opportunity for us especially for the Genesis and Equus, which are well suited for the Fairfield market”, states Peter DiPersia, Hyundai General Manager Eastern Region.
“This property, formally occupied by Devan Infiniti, is the perfect fit since it already has the necessary showroom and garage space required for the dealership”, said Angel, who represented the subtenant in the negotiations. The subject property became available when Infiniti expanded its operations and acquired a new facility located at 26 Commerce Drive, Fairfield, in a transaction also handled by Angel Commercial.
First Selectman Michael Tetreau welcomes the Hyundai dealership by stating, “Fairfield is very much alive and up and running. We welcome Hyundai to Fairfield and the additional interest it will bring into the town”.
Hyundai of Fairfield is aiming to open on November 1st, 2011. David Cartwright, dealer principal, grew up in Fairfield and states, “I am elated to be back to my hometown to open this dealership. I plan on getting involved and developing a relationship with the community”.
Scott Gerard Esquire, from Murtha Cullina L.L.P. acted as corporate counsel representing D&D Auto.