Garofalo of Reno Properties Group brokers $4.5 million sale: Cromwell Avenue Shops, LLC, seller

Dan Garofalo of Reno Properties Group recently brokered the sale of 396 Cromwell Ave., a 15,000 s/f shopping center. Garofalo represented the seller, Cromwell Avenue Shops, LLC of Newington and procured the buyer Indetail, LLC of Norwalk in the $4.5 million sale. The multi-tenant shopping center is fully leased to Connecticut Bank and Trust, Rocky Hill Eye Associates; an optometry practice, Velocity Urgent Care; health care provider and Asian Bistro; sushi and hibachi restaurant. Garofalo and Reno Properties Group have sold the property three times in six and a half years. In October of this year Garofalo and Reno Properties Group investment brokerage team arranged for and closed the third sale of the property for $4.5 million. Reno's team of professionals "turned" a $2.5 million dollar investment to a $4.5 million dollar sale in the short span of twenty-two months. Reno Properties Group is a full-service commercial brokerage firm located in Newington, Conn. and licensed in both Conn. and Mass. Reno's team of commercial real estate professionals provides leasing and sales, property management, construction and investment real estate services.

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