Compo Acres Shopping Center, 374 Post Road East, is a neighborhood shopping center located half a mile from downtown Westport on the corner of the Post Road and Compo Road South. Trader Joe’s serves as an anchor tenant within this center which is comprised of a property size of 42,796 square feet.
Tenants include:
Trader Joe’s utilizes 11,731 square feet (s/f), of this shared center which also includes:
Choice Pet Supply 2,763 s/f
SoulCycle 3,500 s/f (scheduled to open within the next few months)
Patriot National Bank 3,837 s/f
Kempo Academy 1,737 s/f
Robeks 1,552 s/f
Farrow & Ball 1,261 s/f
Compo Farms 1,563 s/f
Silver Luggage & gifts 2,910
The Winged Monkey 2,910
Twenty-First Century Skincare 650 s/f
Town Nails 2,080 s/f
Chipotle 2,942 s/f (scheduled to open within next few months)
Wells Fargo 3,360 s/f (out lot 1)
“The property was purchased by an investor a few years ago,” said Steve Smith, Westport’s Building Inspector. “They decided to make some improvements to the site and to the building. The rear parking was along a steep hill, they blasted and are leveling that and they’re going to put a whole new façade on the building. They’ve also attracted some new tenants into the space.”
According to a source close to the project, the owner, developer and manager of the property is Equity One (www.equityone.net). Equity One is a leading shopping center developer and owner focused on urban communities. Since 2009 the company has acquired or developed nearly $2.0 billion in retail assets, concentrated in New York, San Francisco, Los Angeles and South Florida.
The hill in the back was not user friendly, so they are taking down the hill to make it a more customer friendly parking lot. “It will not add parking spaces; it’s just about making the back lot more accessible so customers utilize it.”
Façade Re-Skinning:
Simultaneously, they are also completing a ‘façade re-skinning’ along the entire building, in phases that will happen throughout this next year or so. A mix of different siding materials and colors will be used. Equity One is not taking any part of the building down, nor are they adding/ expanding to the existing footprint. They also noted they are trying to make it as least disruptive to the tenants as possible, as it is a fully occupied center. Each of the stores plans to remain open for business during these renovations.
“We are happy with being able to make these improvements to the center and are hoping it will be finished quickly.”
Completion:
The parking lot is scheduled for completion by the end of this year.
The façade portion is scheduled for completion next summer, 2015, as materials used are temperature sensitive.