Guilford, CT DeForest Smith, CCIM, SIOR, president of George J. Smith & Son Commercial and Investment Real Estate completed the sale of 88 acres and fronting on the Boston Post Rd. (Rte. 1). The sales price was $1.5 million. The firm represented both the buyer and the seller.
The property is approved for a residential use of 320 bedrooms. The buyer is considering a development of single family homes, or possibly rental units.
The seller was represented by attorney Joy Moore and the buyer was represented by attorney Carl Porto.
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