ORANGE, CT… Michael Richetelli, President and Designated Broker of Colonial Properties, Inc., is pleased to announce the completion of the following transactions.
Michael Richetelli, President/ Designated Broker, represented the Seller, Partners 95, LLC, in the sale of 96 Frontage Road, East Haven, CT; a multi -tenant retail building on .74 +/- acres for $2,650,000. A Dunkin’ Donuts, Boston Market and a smoke shop currently occupy the 7,000-square-foot plaza that is located directly off I-95. The Buyer, ARBAZ Holdings, LLC was represented by Luke Massirio of OR&L.
Fred A. Messore, Sr. Vice President, was the sole Broker in the sale of 958 & 978 Boston Post Road, West Haven, CT. The 56,000 SF +/- commercial building on 2 +/- acres was purchased by Five Stars Brothers LLC for $1,400,000. The Seller was DP64, LLC, an affiliate of Diamond Properties based out of New York. The Buyers are currently assessing the former Gold Medal Bakery location and have not yet determined a redevelopment plan.
“These were two good sales to start out the New Year. They indicate the continued high demand for both quality investment properties and light industrial buildings that we expect to continue throughout 2023.” said Mike 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.
