HARTFORD, CONNECTICUT IS THE PERFECT LOCATION FOR THE NEXT NEXUS PROPERTY MANAGEMENT FRANCHISE OFFICE
Another Nexus Property Management® franchise office opened this week. This was the second office to open this year and leads are coming in from across the country: from Texas to North Carolina. While Nexus offices now span four states and both sides of the Mississippi, there’s a good chance the best available territory is just over an hour’s drive from franchise headquarters.
Nexus began operations in Pawtucket, Rhode Island in the summer of 2012 and since then has expanded with franchises in Fall River, Worcester, and Natick, Massachusetts, Tempe, Arizona, and most recently in North Haven, Connecticut. The New Haven County office is the first in Connecticut but it likely won’t be the last. Nearby Hartford has also been highlighted as a prime territory for the further expansion into the Constitution State.
LEARN MORE: WHY INDUSTRIAL CITIES IN THE NORTHEAST ARE ESPECIALLY ATTRACTIVE FOR REAL ESTATE INVESTMENT
HOW HARTFORD IS SIMILAR AND WHY IT STANDS OUT:
Hartford is a city much like Providence, Fall River, and Worcester, where early Nexus franchises had immediate success working with industrial age infrastructure most notably in the form of triple-decker apartment buildings. As density was crucial for factory developers, especially in this era before the automobile, they strategically built towns tightly and with multiple families under one roof. The graphic below shows that in New England, Boston is clearly the most populous and dense area, but second to that is the region around the Connecticut River. At its mouth is New Haven and above that are West Hartford, Hartford, and East Hartford. Follow the river even further north and you hit Springfield. Apart from Boston and New York City’s outer suburbs in southwestern CT, this region boasts the most consistent population density in the northeast and it’s thanks to the industry that grew along the Connecticut River. Those industrial jobs are long gone, but the housing remains, and these areas are prime for real estate investment and the Nexus Property Management® model.
PHOTO CREDIT: Modern Survival Blog / Northeast Population Density
Hartford is dead center on that vertical line and that’s no surprise given the city’s history. It was established way back in 1635 and has been the colonial and state’s sole capital since 1875…in other words, all roads lead to Hartford. Today, Interstates 84 and 91 converge in the city with multiple major throughways center on Hartford as well.
With roads came people and Hartford County is home to the second largest population in the state with almost 900,000 residents living in over 353,000 housing units. Hartford itself is home to 125,000 people and 45,000 households, making it the 8th largest city in New England. But Hartford doesn’t stand alone. Five neighboring cities and towns can claim over 50,000 residents and over 25,000 households respectively. If you find that vertical line through central Connecticut you’ll find Hartford sandwiched between West Hartford and East Hartford, and just to the southwest is New Britain, with a population of almost 75,000. As you expand away from the capital city, density decreases significantly. What does this all mean? Whoever purchases this territory will be able to concentrate their efforts in a tight area and ensure optimal response time and customer service. Contrast this to what is going on out in the Phoenix area and you can better appreciate how ideal this is.
ONE LAST BONUS:
There is more than enough potential right in the Hartford metropolitan area. That alone is enough reason for someone to scoop this opportunity up quickly. But it’s also worth noting that Springfield, Massachusetts is just 31 miles away…a straight shot up I-91. Springfield is New England’s fourth largest city and when paired with Hartford they anchor the Greater Hartford-Springfield region. Locating an office between the two could allow an ambitious owner to reap the benefits of two top-rated regions. Of note, Bradley International Airport, which claims the region as its home, is in Windsor Locks, Connecticut, exactly halfway between Hartford and Springfield. Perhaps you might want to open your Nexus franchise office near New England’s second largest airport.
NEXUS’ GROWTH:
Nexus’ founder, Nick D’Agnillo, opened the first Nexus office over a decade ago and from day one the focus has been on growth. With over 500 units under management for that inaugural Rhode Island location, Nexus began franchising in March of 2017 and promptly opened a second office in Fall River, Massachusetts. With two offices off and running, Nexus managed over 1000 rental units across two states. Then in the summer of 2020 a third office opened in Worcester, Massachusetts. One year later, Natick became the third Massachusetts location and most recently, in 2023, the Phoenix East Valley office and New Haven County offices opened. The company brands its franchise opportunity as highly scalable and we’re seeing that growth across the country. Odds are pretty good that the next franchise office just might be on the banks of the Connecticut somewhere in Hartford County. Contact Greg Rice, Nexus’ Vice President of Franchise Sales, to learn more.
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Mick Lefort is the Vice President of Operations for Nexus Property Management®. A National Property Management Franchise that manages all types of rental property from single family homes or condos to large apartment buildings and complexes.
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Pawtucket RI Property Management Office
Worcester MA Property Management Office
Natick MA Property Management Office
New Haven County CT Property Management Office
