News: Retail
Posted: January 23, 2014
Fischer of Fischer Real Estate sells 7.5 acres for $695,000 in Derby
Marcucio Garden Center, located at 480 New Haven Ave. (Rte. 34) in Derby since 1998, was sold within 72 hours of being placed on the market for $695,000. The buyer was Master One, LLC of East Haven. Although the total size of the parcel is 7.5 acres, only slightly more than 1 acre is usable and zoned for retail use. The balance of the land was undevelopable due to drainage and other use restrictions.
The location, adjacent to Lowes and close to other big name retailers such as WalMart, Starbucks, Dunkin Donuts, Burger King, CVS, McDonalds and Wendy's, is a desirable retail site with 34,600 cars passing by daily and over 36,000 people living within a drive-time of 7 minutes. Master One, LLC plans to demolish the garden center and construct a new TownFair Tire Center on the site.
Alan Fischer, CCIM, SIOR, of Orange-based Fischer Real Estate Inc. represented the buyer and the seller.
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