Commercial Real Estate News
Acquisition & Disposition
SSG Plans to Break Ground at 2101 Commerce Drive, Bridgeport CT
Bridgeport, CT – July 19, 2012 – Groundbreaking for a new building will take place at 2101 Commerce Drive, Bridgeport, Connecticut during this summer, making this the first new construction to take place on Bridgeport’s Commerce Drive for almost 30 years.
Self Storage Group LLC (SSG), purchased 1.51 acres at 2101 Commerce Drive for $2,000,000.00. The plan was approved for the construction of a six-story, climate-controlled, Class A, secure self-storage building on the former CT Limousine site. This will be their first facility in Connecticut and their ninth facility along the East Coast.
“This is an exciting project for the City of Bridgeport. I have negotiated many transactions along Commerce Drive in both Bridgeport and Fairfield. As a commercial real estate broker, I played a major part in the redevelopment along Commerce Drive, Fairfield by placing several high-end automotive dealerships. The street has become cleaner, less industrial, and more ‘commerce-oriented’, living up to its name. I am hopeful this new project will be the start of rebirth for Commerce Drive in Bridgeport”, comments Jon Angel, President of Angel Commercial LLC, who represented both SSG and the Seller.
Gerald Cohen, Manager of SSG Development LLC, stated, “SSG is thrilled to be starting its ninth self-storage facility. The facility has been designed to meet the needs of the residents in the greater Fairfield, CT area. Once we complete construction, we look forward to welcoming our new customers to our Class A facility.”
The SSG building will be visible from I-95 and located immediately off Exit 25 on I-95, major features of this location. Adjacent parcels of land are currently still available. This includes 2.39 acres and a pad site of .5 acres with approval for a 4,920 SF building for retail/restaurant use.
SSG is a real estate investment and property development company that develops, builds and owns, state-of-the-art, multi-story, climate-controlled, self-storage facilities with sites in various stages of development along the East Coast.