According to Mike Richetelli, president of Colonial Properties, Inc. Fred Messore, senior vice president has completed the sale of two redevelopment properties. 513 Sawmill Rd., a 1.61-acre lot was sold by Walmart Realty to McDonald's- USA, LLC for $1.1 million. The buyer constructed a new prototype 4,200 s/f McDonald's restaurant with a double drive-thru, which opened at the end of the year. Messore, was the sole broker in the transaction for his representation of McDonald's USA, LLC. "Fred has demonstrated his patience and perseverance in negotiating a complicated transaction between two of the United States most significant corporate entities, Walmart and McDonald's," said Richetelli.
Messore was also the sole broker in the sale of an assemblage of six properties along Orange Ave. in the Allingtown section of West Haven, in close proximity to the University of New Haven campus. The central property sold was the Carroll Cut Rate Furniture building and included several other abutting parcels, totaling almost 50,000 s/f of building space on 2 acres. The total sale price was $1.5 million. Messore represented the buyer, Forest Cove, LLC who plans on renovating the Carroll Cut Rate building and creating a new mixed-use development called The Atwood, which will include 7,500 s/f of retail space and 30 market rate "loft style" apartment units.