Weirsman of Colonial Properties brokers $650,000 development deal

According to Michael Richetelli, president of Colonial Properties, Inc., Kevin Weirsman, vice president has completed the sale of 510 First Ave. The property is a 1.8-acre parcel fully approved for 28 condominium units, earmarked for 55+ housing, that has been sold for $650,000. The buyer, First Place LLC, has begun construction with the removal of a light industrial building that sat vacant at the site for many years. Weirsman represented the seller, 510 WRC LLC, in the transaction that closed just prior to the end of the year. Colonial Properties, Inc. is a full service brokerage firm. Weirsman's direct focus is on the sales and leasing of investment and commercial redevelopment projects.