Shawah of Baldwin Pearson Company and Wettenstein of Vidal/Wettenstein negotiate sale of 25,000 s/f building for $1.65 million

Stratford, CT The Olson Steel property at 245 Access Rd. has been sold. The purchaser was a division of Norwalk Marine Contractors which had been occupying the property for the past 15 years. George Shawah of Baldwin Pearson Company and Bruce Wettenstein of Vidal/Wettenstein had negotiated the lease for the tenant in 2010 with options to renew and a purchase option at the termination of the lease. That purchase option was exercised and the property closed. 

The 25,000 s/f building on four acres of industrial zoned land sold for $1.65 million. The tenant had completed many improvements to the property which were reflected in the sales price. Shawah and Wettenstein were the brokers involved in the transaction.