Investment Overview

THE NOLLETTI GROUP OF MARCUS & MILLICHAP is pleased to offer the opportunity to acquire and develop 855 Orange Avenue (Boston Post Road) in West Haven. Currently, there are unappealable approvals to construct 150 market rate apartments and 9,679 square feet of retail on approximately 6.90 acres (Parcel A). This approved multifamily community, within a Federal Opportunity Zone, will feature 91 one-bedrooms, 59 two-bedrooms, highly visible retail, modern amenities, a rooftop terrace, and some tuck-under parking. Located merely three quarters of a mile from University of New Haven, the site has outstanding visibility with frontage along Boston Post Road, known as Orange Avenue in this neighborhood of West Haven. Home to numerous national retailers, Orange Avenue provides immediate access to groceries (ShopRite), restaurants, and consumer staples such as Target, Walmart, and many more. 855 Orange is ideally positioned equidistant between world-class medical facilities. Yale New Haven Hospital’s West Campus is located 10 minutes to the west, the VA Connecticut Healthcare is to the property’s south, and Yale New Haven Hospital + Saint Raphael’s Campus with its brand new Neuroscience Center, employing nearly 15,000 staff, is located 10 minutes to the east. University of New Haven, which contributes more than $914 million to the local economy according to a Q1 2023 study, continues to expand allowing for a potential student housing execution with 855 Orange. There are currently more than 7,500 undergraduate and graduate students. The campus has added two dozen new courses in the last 10 years and the recently constructed Bergami Hall (0.7 of a mile from 855 Orange) created a new center for STEM research/innovation. **Marcus & Millichap is offering the property and approvals belonging to the front of site along Orange Avenue which is soon to be divided into Parcel A (6.90 acres). Parcel B (4.6 acres) containing the approximate 60,375 square foot industrial building in the rear of the property with access via Farwell Street is NOT included.**