Michael Richetelli, President and Designated Broker of Colonial Properties, Inc., is pleased to announce the completion of the following transaction.
Gary Bellard, CCIM and Commercial Real Estate Broker with Colonial Properties, Inc., represented the Seller, 363 Boston Post Road Associates, LLC, in the sale of 363 Boston Post Road, Orange, a 15,300 SF +/- Commercial Building, for $2.2 million. The Buyer was represented by Fred A. Messore, Senior Vice President, of Colonial Properties, Inc. The single-tenant investment property was completely renovated about 8 years ago and is the long-time home of Porch & Patio, which will remain a staple on the Post Road in Orange.
“This property was on the market for a very short time and traded at a very low cap rate, demonstrating the strong demand in the marketplace for quality investment properties”, said Richetelli.
Colonial Properties, Inc., founded in 1978, is a full service Commercial and Residential Real Estate Brokerage, located in Orange, CT. The firm handles all types of real estate transactions including the sale and leasing of retail, industrial, office, investment properties, and residential properties, as well as brokering land and business sales.
