“I have a lot of confidence in the Western Connecticut region. We have a very well diversified economy, unemployment is the lowest in the state, and it has been for a long time. We are a very resilient economy.”
— Hal Kurfehs, VP of Coldwell Banker Commercial Scalzo Group in Bethel, CT

As a commercial real estate broker in Western Connecticut for over 26 years, it’s easy for Hal Kurfehs to identify the needs and wants of businesses in Greater Danbury, and to evaluate how the area compares to nearby regions.

His assessment?

“We are an oasis,” Kurfehs said, referring to Western Connecticut as compared to the rest of the state. “The region is very, very strong.”

There are diverse real estate opportunities in Western Connecticut, where office, retail, industrial and entertainment spaces are plentiful and comparatively affordable. There is also land located nearby the region’s primary transportation corridor, I-84.

Hal Kurfehs, VP of Coldwell Banker Commercial Scalzo Group in Bethel, CT

Kurfehs names Danbury, recently named one of the top small cities in the nation, as undergoing an impressive revitalization in its downtown. Hotel Zero Degrees, an upscale property, recently broke ground. New tenants in a 375-unit apartment and condominium development, Kennedy Flats, are expected to demand services more often seen in high-end urban areas. In nearby Brookfield, the new 4-corners area has attracted new businesses, with apartments to follow.

One reason why developers are attracted to Western Connecticut is affordability. Commercial office real estate prices average between $20 and $24 per square foot, according to Kurfehs. Compare that to lower Fairfield County, where lease rates can reach as high as $95 per square foot, and it’s easy to see why businesses move north.

Connecticut residents discovered the attributes of Western Connecticut long ago. Western Connecticut’s population is growing, unlike other areas in the state, because they are drawn to the region’s high quality of life. Excellent public schools, lower residential real estate costs, incredible natural resources and outdoor recreation options, diverse employment opportunities, convenient access to retail and services, and a charming New England atmosphere all play a part in attracting the region’s highly educated workforce.

Developers also appreciate that doing business in Western Connecticut is easier than in neighboring regions, including New York and New Jersey.

“Developers from New Jersey and New York can’t quite grasp that they can do a deal in 6 to 9 months, and a year at worst,” Kurfehs noted. “At home, it’s a couple of years before they can get approvals.”

Kurfehs credits sectors such as advanced manufacturing with bringing technological innovation and a desirable mix of experienced and trainable talent to Greater Danbury. Western Connecticut has also earned a reputation as being the most business-friendly region in the state.

“I’m pretty bullish in general on the state of the commercial real estate economy,” Kurfehs said.

“Western Connecticut is a great place to live and work.”