News:
Owners Developers & Managers
Posted: January 26, 2018
Angel Commercial completes two sales totaling $4.085 million - part of PPG Portfolio
1739 Main Street - Bridgeport, CT
Angel Commercial
Bridgeport, CT A portion of the Southern New England PPG Portfolio has sold for $4.085 million, according to Jon Angel, president of Angel Commercial, L.L.C.
The two properties that sold were 1739 Main St. in Bridgeport, for $2.835 million, and 752 Page Blvd. in Springfield, Mass., for $1.25 million.
“The PPG portfolio originally consisted of six properties that were all tied to multi-year leases with an 8% cap rate,” said Angel who was the sole broker in this transaction. “All of the leases within this portfolio were assumed by PPG Industries as a result of their purchase of Painter’s Supply in 2014. There are only two properties remaining.”
Angel Commercial is a full-service real estate brokerage firm. The company specializes in the acquisition, disposition, and leasing of office, industrial, multi-family and retail properties on a local and national level.
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