Colonial Properties facilitates two retail
transactions totaling $2.46m

Orange, CT Michael Richetelli, president and designated broker of Colonial Properties, Inc., has completed of the following transactions.

Richetelli represented the seller, VCR, LLC, in the sale of 330 Boston Post Rd., a 7,450 s/f multi-tenant retail building on .85 acres. The buyer, Fahmy Khalil, was represented by Richard Ballou of Houlihan Lawrence. The property was purchased for $1.51 million and was occupied by an orthopedic walk-in clinic and a wireless zone cell phone store. The seller’s legal representation was by attorney Gabriel Cusanelli of New Haven; the buyer was represented by attorney Max Rosenberg at Rosenburg & Hite, LLC in Stratford.

Richetelli also represented the seller, Leo Zygleman in the sale of 370 Boston Post Rd. The 7,552 s/f professional office building on .57 acres was purchased by NECY Investments, LLC for $950,000. The property is a fully-leased office building occupied by five tenants. The seller was represented by attorney Gary Lorusso with Tierney, Zullo, Flaherty & Murphy, P.C in Norwalk; the buyer was represented by Attorney Paul Kaplan in New Haven, CT 

“These two Rte. 1 sales, located just a few doors away from each other, came together very quickly and seamlessly. They demonstrate the continued high demand in the marketplace for well located, stabilized commercial investment properties,” said Richetelli.