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Real Estate Articles >> CONNECTICUT REAL ESTATE
Cromwell real estate By Connie English XML

Located in Middlesex County, Cromwell is in one of the fastest growing area's in the state. This is a river community of nearly 13,000 people, located just north of Middletown. Cromwell is considered part of the Greater Hartford Metropolitan Region.


Conveniently located close to major metropolitan areas and connected to major transportation arteries, Middlesex County makes the perfect place to live, work and visit. Middletown, the hub of Middlesex County, is located only 15 miles south of Hartford and 20 miles north of New Haven, making access to either city only a short commute away.
 
During the past ten years, its residential population has jumped over 12%.
Cromwell continues to grow as a modern and upscale suburban community boasting a high quality of lifestyle for the region. This high quality lifestyle, along with a strategic central location and probably the best highway access in the state, have combined to make Cromwell a very popular residential community.  Bradley International Airport is located just 15 minutes north of downtown Hartford.
 
Cromwell boasts of its new and modern condo and town home communities, modern and spacious custom built homes and modern apartment complexes.  Older neighborhoods are well kept and attractive with wonderful landscaping along its clean avenues and streets.
The town boasts of modern shopping centers, malls, medical facilities, award winning schools, libraries, theatres, parks, recreational facilities, and 2 large hotel complexes featuring meeting and convention facilities.  Senior centers and Youth centers are just two of the towns main focus points.
 
Community leaders in Cromwell have long focused on the development of its industrial and commercial interests as a priority, knowing the importance of keeping the proper balance and perspective of job creation, commercial development in tune with modern residential community development thus maintaining the famous Cromwell lifestyle.
Golfing is big here and the town proudly promotes the Buick Champioship Tournament held at the Tournament Players Club at River Highlands.
Plants and nursery stock continue to be an important industry, adding to the towns booming economy each year.  This area of Middlesex County has continued to expand and develop. The county is ranked third in the state in per capita income and that figure continues to grow.
Continued commercial and industrial development and modernization is important here as indicated in recent years commercial growth. 
 
The weather is relatively mild here compared to the rest of New England. The changing seasons can be enjoyed in a much less drastic manner as relatively mild winters and warm summers make for a very comfortable climate thus making the residential and commercial development more desireable for continued growth.
 
Standard of living is not the same as quality of life. The MetroHartford Region, however, enjoys both a very comfortable standard of living and a vibrant quality of life.  Employees working in the many commercial and industrial organizations here can take advantage of a wide array of entertainment and cultural activities: spectator sports, theatres, museums, galleries, parks, water sports, skiing, golf and more. Quaint New England villages dot the landscape and offer scenic charm throughout the seasons.
 
MetroHartford is known for its highly educated and skilled population which creates a great available work force. The Cromwell area commercial and industrial complexes boasts their worker productivity 6% above the national average. The cost of operating in MetroHartford area competes favorably with other major metropolitan areas. Based on needs and preference, office and commercial space is available to satisfy a diversity of needs & can easily be found throughout the region. Office lease rates and operating expenses are below the average rates found in cities such as Atlanta, Chicago, Baltimore, Boston and New York.
 
There is no doubt the area is in a strategic position poised for continued growth. With above average and exceptional telecommunications, fiber and power infrastructure, the 2nd largest airport in New England, and a highly educated and productive workforce, continued residential and commercial-industrial growth is assured for the area.
Recognizing the need for a prepared, available workforce, the Growth Council has been instrumental in developing demand driven training modules to support and help businesses grow. The public officials throughout the MetroHartford region have participated in the Growth Council's nationally recognized "Economic Development for Public Officials" education program to increase their knowledge of the business development process. They understand the importance of working with business needs and are ready to facilitate  relocation or expansion efforts.
 
Lets look at another important factor in modern commercial and industrial development; taxes.  Sales tax here is 6%.  The State Corporate Income Tax rate is 7.5%.  Connecticut has no state property tax. Each municipality assesses property at 70% of value and sets its own tax rate. Occupancy Tax for rental of hotel rooms for 30 days or less is 12%.
 
Energy Reliability and Efficiency is of the utmost importance here.
The area is proud of power reliability and you will hear that even during most of the nations famous blackous, Hartford's lights were on!
Connecticut's conservation bindge has never fluctuated when it comes to effecient use of energy. According to a recent University of Connecticut study, the state's energy consumption is now 28% below the national average. Not only does Connecticut use less energy than most states, it uses that energy more efficiently.  Business and Commercial operation here can budget much less in all of the energy columns on their spreadsheets.
 
The Middlesex Chamber of Commerce has been instrumental in recent area growth and attraction featuring recognized business, political and sports figures nationwide. In addition, the Chamber has developed 17 Business Councils to address commercial and industry specific issues:
 
Automotive, Business/Education, Environment & Land Use, Golf, Health Care,  Home-Based Business,  Hotel/Restaurant,  Insurance,  Legislative,   
Manufacturers, Loss Prevention, Rail, Real Estate,  Sport Events,  Technology,  Transportation,  and Young Professionals' Alliance.
The Chamber has a number of special programs including: the Business Education Partnership Program; the Middletown Mentor Program; Workforce Development Programs; the Business Resource Center; the Middlesex County Substance Abuse Action Council (MCSAAC), and The Connecticut Career Choices and Job Training Program.
The Middlesex County Chamber of Commerce Employee Assistance Program is designed exclusively for Chamber members and especially for smaller employers. The program is provided by Middlesex Hospital and Solutions EAP, a program of Behavioral Health Connecticut, LLC. Now employers of all sizes can benefit from EAP services at affordable prices.
The Chamber is and will continue to be a motivating factor in Cromwell and Middlesex continued economic boom.
 
The following is an example of varied commercial properties available for sale or lease and will offer an exceptional sample of the commercial and industrial real estate available in the area:
Warehouse   5000#     Lease  $ 6.75/SF 
Warehouse (to be built)    21000#     Lease $ 6.00/SF
 .95 acre zoned commercial    175000#       Sale or Lease $ n/a
1 Main Street retail-office  2100#          Lease  $ 4000/mo
2 Main Street office   500#            Lease  $ 750/mo
13 Main Street retail-office  1550# & 1400#    Lease  $ 3500 NNN
19 Main Street  retail/office  600#  Lease   $  n/a
55 Main Street  retail  700#  Lease  $ 1575/mo 
25 Middlesex Turnpike  office/manufacturing 6000# Lease  $ 6.50/SF/nnn
67 North Main Street office - 2 offices  Lease  $ 250 & $ 275/month
Plains Road Industrial  6500#  Lease  $  n/a   
 
In summary, Cromwell offers the best of the best for commercial/industrial and residential investment today, and is situating itself for a continued booming economic future.  Transportation access, energy costs, infrastructure, quality of life, proud and caring city fathers, climate and location all offer testimony to the fact that this area of Middlesex County is an economic power house now and will continue to be that for the foreseeable future.  The Cromwell area and the entire MetroHartford Region boasts a strategic location poised for growth.

About the Author

Larchmont Realty
Merritt and Associates have Real Estate office in both Rye New York, Scarsdale NY, Larchmont NY and Greenwich, CT.
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