News: Owners Developers & Managers

Angel of Angel Commercial, LLC brokers $1.15 million sale to Dr. Afshar

Jon Angel, president of Angel Commercial LLC, completed the sale of a 10,515 s/f, two building complex on 1.84 acres at 33 Church Hill Rd. to Dr. Alex Afshar for $1.15 million. The two building complex comprises of one building that is 4,215 s/f, built in 1900 and one that is 6,300 s/f, built in 2008. Dr. Afshar is a family physician practicing with the Family Health Care Center. He plans on opening a new medical care facility in the 6,300 s/f building located at the rear of the property and will be offering the front building for lease. "The property is ideal for medical use. There is ample parking, elevator access, located on one of Newtown's major roads, and directly across from the recently approved Lexington Gardens project," said Angel who was retained by Customer Bank to handle the sale of this foreclosed property. Atherton & Associates represented the purchaser in the sale. Scott Gerard Esquire, Murtha Cullina LLP was the corporate counsel representing the purchaser in the transaction. The Villages at Lexington Gardens is a major commercial redevelopment project for a 6.3 acre site at 30-32 Church Hill Rd. The approved plans call for adding 60,500 s/f of new commercial space in the form of 4 two-story buildings - one at 28,000 s/f, two at 13,000 s/f and one at 6,500 s/f. Each building will have retail space at the ground level and office space on the second story. Newtown Savings Bank will occupy the 6,500 s/f building located at the rear of the site. Angel Commercial, L.L.C. is a full-service real estate brokerage firm headquartered in Fairfield County, Connecticut specializing in the acquisition, disposition and leasing of office, industrial, multi-family and retail properties on a local and national level.www.angelcommercial.com.
MORE FROM Owners Developers & Managers

Colwen Hotels celebrates opening of the first hotel in Portland’s Thompson’s Point - Residence Inn by Marriott and Moxy Hotel

Portland, ME Colwen Hotels celebrated the opening of Residence Inn by Marriott and Moxy Hotel Portland Thompson’s Point, the first hotel in the city’s Thompson’s Point district. Developed by XSS Hotels and managed by Colwen Hotels, the five-story, dual-branded property introduces 148 guestrooms to one of southern Maine’s fastest-growing waterfront destinations.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Revitalized Town Centers:  Retail??? - by Carol Todreas

Revitalized Town Centers: Retail??? - by Carol Todreas

It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
IREM president’s message:  Our new reality - Staying ahead of supply chain delays - by Yoany Vargas

IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas

Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and

Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala

Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala

Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
The legislature has spoken:  New Hampshire doubles down on housing in commercial zones - by John Sokul

The legislature has spoken: New Hampshire doubles down on housing in commercial zones - by John Sokul

Last year, the New Hampshire Legislature enacted HB 631, a landmark housing measure requiring municipalities to permit multifamily housing in commercially zoned districts. The law generated