ORANGE, CT… Michael Richetelli, President and Designated Broker of Colonial Properties, Inc., is pleased to announce the completion of the following transaction.
Colonial Properties recently completed the sale of The Marsh Hill Business Park at 4 Oxford Road, Milford, CT, for $3,300,000. The commercial/flex condominium portfolio is comprised of 5 buildings with 17 units totaling 33,000 +/- SF. The commercial investment property had a long history of stable tenancy and features a diverse tenant mix. Colonial Properties was the sole broker in the sale. The Seller, Sanibel, 955, LLC was represented by Mike Richetelli, President and Designated Broker. The Buyer, Oxford Condos LLC, was represented by Tony Vitti, REALTOR®. The Seller’s attorney was Menachem Sandman, Esq. of Sandman Law Group, LLC in New Haven, CT; the attorney for the Buyer was John P. McHugh, Esq. of Cranmore, Fitzgerald & Meaney, LLC in Hartford, CT.
“We are very proud of being able to transact this sale on behalf of both the Buyer and Seller, who are both very pleased; it’s truly one of those win/win scenarios where all parties enjoyed a favorable outcome. Colonial was also fortunate to have brokered the sale of this property to the Seller back in 2005, so we were involved as it came full circle!”, 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 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.
