ORANGE, CT… Michael Richetelli, President and Designated Broker of Colonial Properties, Inc., is pleased to announce the completion of the following transactions.
Fred A. Messore, Broker and Sr. Vice President of Colonial Properties, Inc represented the Seller, Sand Castles in the Sky, Inc, in the sale of 7 Ivy Brook Road, Shelton, CT, a 3 + acre parcel of undeveloped land in a corporate park. The property was purchased by Kyma, LLC for $515,000, who intends to build a 40,000 SF +/- building for office, manufacturing and warehouse uses. The Buyer was represented by Bruce Wettenstein of Vidal/Wettenstein, LLC. The Seller was represented by Attorney Paul Kaplan, in New Haven, CT; the Buyer was represented by Attorney Morris L. Barocas with The Barocas Law Firm LLC in Riverside, CT.
Tony Vitti, REALTOR®, represented the Landlord, a New Haven investor, in the leasing of a 1,685 SF +/- retail space located in a mixed-use building at 184 Elizabeth Street, Derby, CT to Smoke Vibe 2, for a (5) year lease term. The landlord was represented by Attorney Brian Lema with Berchem and Moses in Milford.
“We are seeing vibrant activity and interest across most sectors of commercial real estate, with only the office market continuing to lag. These two transactions (Land and Retail), demonstrate the demand for diverse property types, along with recent transactions in the industrial, mixed-use and other sectors that we have transacted”, said Mike 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.
