For Sale: One of City's Older Buildings in Older Plaza Likely to have New Owner as Change Set for Future
By Jeff Toquinto on October 03, 2022
Back on Sept. 6, Vast Holdings, LLC received preliminary plat approval from the Bridgeport Planning Commission to subdivide property at The Square @ Bridgeport. Today, it is possible that final approval will be given.
The matter became secondary in nature when Scott Werdebaugh, who represented the LLC at the meeting, divulged that the national fitness chain Orangetheory was opening up in the plaza – successfully filling every storefront in the plaza with two buildings.
Now, the subdivision takes the spotlight. And for good reason.
The subdivision will essentially separate the two buildings. The main building houses the Dollar General as its anchor store, while the second building is home to three businesses.
It is the second building, which covers 4,300 square feet, that will be subdivided and then eventually sold. Many know the building as the former the Appalachian Tire building.
“Our goal is to sell the small building,” said Werdebaugh. “We already have somebody who is very interested in that.”
The selling of the building may sound odd considering not only is the former Valley Hills Plaza booming, but the building being sold has all three of its spaces filled. Insight Astronomy, Callunas Boutique, and Bridge Nutrition all occupy the structure.
Werdebaugh said the reason for the selling is not complex.
“We would like to get a return on our investment back, and with us seeing an increase the value of the property, we figure now is the time,” he said. “We have a potential buyer at a time when there are less potential buyers out there.”
As for the health of the plaza, Werdebaugh said all is well on that front.
“There are no issues at all; the plaza is vibrant,” he said. “Our plan when we first bought the plaza was to renovate it, fill it, and sell it. We think we’ll eventually sell the other part of the plaza.”
The selling of the first building is contingent on the subdivision. The Planning Commission unanimously agreed on the subdivision at the last meeting after concerns relating to parking were addressed by Werdebaugh.
Today's meeting is tentatively set for 4 p.m. in City Council Chambers at the Bridgeport Municipal Complex.
Editor's Note: Top photo shows the building in question, while Scott Werdebaugh is shown below.
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