ORANGE, CT… Michael Richetelli, President and Designated Broker of Colonial Properties, Inc., is pleased to announce the completion of the following transaction.
Michael Richetelli represented the Seller, Milford Post Associates, LLC, in the sale of 1590 Boston Post Road, Milford, CT; a multi -tenant retail property on .81 +/- acres for $2,032,900. The current tenants are Mattress Firm and Tropical Smoothie Cafe occupying the two buildings totaling 7,667 +/- square-feet. Located on the highly trafficked Route 1, this is an ideal investment property. The Buyer was Colony Parks, LLC.
“Due to its superior location and stable tenants, this property was a very sought after asset, which generated significant interest. The corner property was essentially a pad site for the Milford Marketplace Lifestyle Shopping Center featuring Whole Foods and was positioned in between Costco and the CT Post Regional Mall in the most desirable section of Route 1. The sale demonstrates the continued strong demand for retail investment properties” 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.
