ORANGE, CT… Michael Richetelli, President and Designated Broker of Colonial Properties, Inc. is pleased to announce the sale of Contempo Square Plaza, 200 Boston Post Road (US1) in Orange, CT. The 22,475 sf +/- shopping center sits on 2 acres of land and is comprised of a mix of retail and office tenants. Michael Richetelli represented the Seller, Contempo Post Associates, LLC. The Buyer, 200 Boston Post Road LLC, was represented by Nick Mastrangelo of Weichert Realtors. The attorney representing Contempo Post Associates was Erin Cabelus of The Jackson Law Group CT located in Shelton, CT. The Buyer was represented by the Law Offices of Donald H. Brown, of North Haven, CT.
“Investment properties available for sale along this premier retail corridor are scarce, with typically several barriers of entry for this market. This sale was mutually beneficial, as the Seller was able to dispose of a fully depreciated asset and deploy the capital elsewhere and the Buyer was able to attain a stabilized investment property in this highly coveted market.”, 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 commercial and residential 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.
