Futures And Options: Bridgewater And Nyala Farms

Ever since Edward T. Bedford bought a farm in 1910, and his son Frederick raised award-winning Guernsey milk cows there, “Nyala” — named after antelopes he saw in Africa — has been one of Westport’s most cherished sites.

There was concern in the late 1960s, when Stauffer Chemical Company bought the 53-acre property between Greens Farms Road and the Sherwood Island Connector.

They planned a large office park on the site — the first of its kind in Westport. After long negotiations with the town and the Greens Farms Association, an agreement was reached.

Stauffer’s worldwide headquarters — just a few yards from I-95 Exit 18 — would be unobtrusive. The rolling hills and meadows — including an iconic well — would remain largely undisturbed.

Nyala Farms office complex. I-95 is at the right; the Sherwood Island Connector is at the bottom.

Similar fears arose nearly 20 years later, when Stauffer — facing financial difficulties over pollution issues, and an audit by the government — sold Nyala Farms to Bridgewater Associates. for $130 million.

It was one of 2 Westport properties owned by the world’s largest hedge fund. The other was Glendinning Place, off Weston Road.

Much to neighbors’ relief at both sites, Bridgewater has been a largely responsible steward of both sites.

Nyala Farms, last week. (Photo/JD Dworkow)

The Glendinning land was sold to David Waldman in 2023, for $10.6 million, and Bridgewater moved out. Last month, the family office of Bridgewater founder Ray Dalio and his wife Barbara bought it back, for $20.4 million. No announcement has been made as to its future, but 15 units of housing proposed by Waldman will not be built.

Last week, a few miles south, neighbors of Nyala Farms were surprised to receive notices about a meeting to be held in the Bridgewater office park 4 days later. The letter said Bridgewater would “share some exciting updates about the future of the Nyala campus and, importantly, to hear your perspective.”

At that session, one attendee tells “06880,” they and others — listening in person and online — were told that the hedge fund is considering selling the property.

Five buildings (brown), set amid hills and meadows. 

The potential buyer is Hartford HealthCare. The network — with 500 locations in 185 towns, including 3 on Post Road East and Post Road West, plus St. Vincent’s Behavioral Health on Long Lots Road (the former Hall-Brooke) — would consolidate those locations at Nyala Farms, meeting attendees say.

Bridgewater currently uses 3 of the 5 buildings there. The remaining 2 would continue to be rented to other tenants. The total area is 372,000 square feet.

One neighbor tells “06880” that while Bridgewater has “largely” kept to its agreement regarding care and upkeep of the open space — as evidenced by the abundance of wildlife on the property — there are concerns about additional traffic Hartford HealthCare might bring.

Nyala Farms well, with an office building far in the background. (Photo/Mary Beth Murray)

According to someone familiar with the situation, there has been no sale. For many years, Bridgewater has evaluated a range of long-term options for Nyala Farms.

This includes a sale in which the firm would remain, but as a tenant — not an owner.

The hedge fund continues to assess a wide range of options.

Over time, Bridgewater has expanded its footprint globally. With offices now in New York, Singapore and Shanghai, it looks to increase proximity to clients, expanding its talent pool, and better serving its employee base.

Buildings (right), and the original Nyala Farms structure (left).

The person familiar with the situation says that Bridgewater and Hartford HeatlhCare have met with town officials, as well as neighbors, to discuss HHC’s preliminary vision if they were to purchase the property.

The discussions included Bridgewater as a tenant — with preservation of the external footprint, and the natural integrity of the grounds.

The only change proposed by Hartford Healthcare would be to use one of the 5 buildings for medical use, during normal business hours.

Other parties have also expressed interest in the property. Discussions will continue, with no timeline urgency.

In the meantime, Bridgewater continues to be Westport’s second highest taxpayer.

60 Nyala Farms LLC — the company that officially owns the complex — had an assessed value of $83,331,700 on the 2024 Grand List. That trailed only Connecticut Light & Power ($144,150,180). In third place: Bedford Square Associates LLC, at $51,520,000. (Hat tip: Andrew Colabella)

(“06880” covers Westport businesses, real estate, the environment and local history. Sometimes they all intersect. If you enjoy stories like this, please click here to support our work. Thank you!)

13 responses to “Futures And Options: Bridgewater And Nyala Farms

  1. You are the historical memory of Westport, Dan, and not just the repository but the sensei, distributor and teacher. This morning you answered all the questions I’ve had about Nyala Farm for 28 years and have just been too damn lazy to find the answers. Thanks tons for being you.

  2. As a 15 year old I remember riding my bike up the driveway at Nyala Farms looking for a summer job. Louis Gordon, who was the property manager for FT Bedford, told me to report to FT Bedford’s home on Beachside Ave. where he had a job for me. Starring pay $1.10 an hour!!! We lived across the I-95 connector at 1 River Oaks Rd. Our living room picture looked out on Nyala Farms looking. I never grew tired of that view! One day while walking along the connector I noticed a very old tombstone on Nyala Farms property! It turned out to be a small cemetery very old. On one stone I could make out “ His drink was rum”

  3. I remember seeing cows there when I first moved to Westport.

  4. It’s a jewel of Westport. I spent part of my childhood watching the milking of the cows in that building. Idyllic.

  5. I have often thought that the Nyala property would be a wonderful spot for a Community Garden. Could the power brokers find a way to allocate a few acres for the gardens? Carve out a piece of the farm for growing, good for the gardeners and the neighbors. Show some goodwill to the community on behalf of the landowner. Just a thought. . .

    • Ms. Bosch –
      This is an excellent idea! It would be a great location and preserve Town property for municipal uses and affordable housing.
      Louis Mall
      RTM D2

      • The Westport Community Gardens have always been, and will continue to be, a municipal use just like they are in Greenwich (three of them), Norwalk, Stamford, Darien, New Canaan, Weston and approximately 18,000 locations in this great country.

  6. I assume our First and Second Selectpersons are actively investigating sites for a new Community Gardens. We are all anxious to learn of their thinking. At first glance, Ms. Bosch’s suggestion as to Nyala Farms at least seems worthy of consideration.

    • Bill Strittmatter

      I’ve often thought that location would be excellent for affordable housing and/or 8-30g development. Convert the office buildings into apartments/condos plus plenty of empty acreage to build more. If the town bought it for 100% affordable, it would probably solve Westports affordable housing issue once and for all. And, probably some room for the community garden as well. Win, win, win scenario.

      • And see that epic vista vanish? No, thank you.

      • Yeah, hard pass on that. Downtown Stamford and Bridgeport used to have epic (pastoral) vistas too… before the all the zoning changes. Let’s stop sacrificing beauty at the affordable (aka subsidized) housing altar, shall we?

  7. Is that land not wetlands? Furthermore, that area does not have sufficient infrastructure for development. In fact, the whole of Westport does not have sufficient infrastructure.

  8. Larry Perlstein

    would someone please explain why the various medical groups are buying up so much property? Are they in the real estate business like banks we’re in the 80s? How many urgent care centers does one town need?

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