Eastern Connecticut CRE Market: Employment & Market Data
The Groton, New London, and surrounding towns in Eastern Connecticut show active commercial real estate markets aligned with significant employment activity. General Dynamics Electric Boat announced hiring of 8,000 new employees in 2026, with 2,250 positions in Groton, Connecticut.
1. Employment Activity: Electric Boat & Naval Submarine Base
Employment: General Dynamics Electric Boat announced 8,000 new hires in 2026, with 2,250 positions in Groton, Connecticut. Hiring supports ongoing Navy submarine manufacturing and modernization programs.
2. Industrial Real Estate Market
Industrial comps data (24 months): 10 sales with a median sale price of $302,500.
Commercial Real Estate Market Summary
Northeast Deal Intel's database analysis of Groton, New London, Waterford, Ledyard, and Montville (October 30, 2026):
- Active listings: 28 total properties
- Median asking price: $1,049,500
- Listings with reported cap rates: 9 properties; average cap rate of the 9 listings that report one: 7.43%
Transaction History & Current Listings (24 Months)
Closed sales by property type (24 months):
- Multifamily: 30 sales | Median sale price: $708,125 | Median price/SF: $169
- Industrial: 10 sales | Median sale price: $302,500
Top-scored active listings (Northeast Deal Intel deal scoring):
Asking: $415,000 | Cap Rate: 7.8% | Score: 7.0/10
Asking: $540,000 | Cap Rate: 6.84% | Score: 6.6/10
Data Sources
This article draws data from the following verified sources:
- Employment data: Connecticut Office of Military Affairs press release (2026); WFSB News (March 23, 2026)
- Transaction & listing data: Northeast Deal Intel comps database (queries run October 30, 2026). Region defined as Groton, New London, Waterford, Ledyard, and Montville, CT. Multifamily and industrial comps include 24-month sales history. Active listings include all properties with and without reported cap rates.
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