Milford, CT Michael Richetelli, president and designated broker of Colonial Properties, Inc., has completed the following transactions:
Richetelli represented the seller, The Milford Bank in the sale of 295 Boston Post Rd., a 5,147 s/f freestanding commercial building on .92 acres. The buyer, BB 295, LLC was represented by Holli Shanbrom and Tom Cavaliere of Coldwell Banker Realty. The property was purchased for $1.25 milllion and will be used as a Prolete Physical Therapy office. The seller was represented by attorney Joy Topazian Moore with Curseaden & Moore, LLC in Milford; the buyer was represented by Attorney Max Case with Jacobi & Case, P.C. also in Milford.
Gary Bellard, broker, represented the seller, Herbert Associates, LLC in the sale of Amity Meat Center at 24 & 28 Lucy St. in Woodbridge a 3,200 s/f freestanding retail building with business on .33 acres. The buyer, FARFL, LLC was represented by Jared Verrillo of Seabury Hill Realtors. The property and business were purchased for $580,000, and the new buyers plan on operating a kosher market. The seller was represented by attorney Stuart Margolis, with Berdon, Young and Margolis, PC in New Haven; the buyer was represented by attorney Jerry Farrell, Jr. with CT Liquor Law in Wallingford.
“Both of these transactions demonstrate the continued strong demand in the market for owner/user opportunities. Buyers from many different industries are actively seeking out properties where they can build equity while operating their businesses,” said Richetelli.
Norwalk, CT Highcap Group has completed the sale of two luxury multifamily properties with a total of 120 units for a combined purchase price of $41.4 million.