News:
Brokerage
Posted: May 27, 2016
Messore of Colonial Properties sells 461 Derby Avenue for $110,000
Fred Messore, Colonial Properties, Inc.
461 Derby Avenue - Orange, CT
Orange, CT According to Michael Richetelli, president and designated broker of Colonial Properties, Fred Messore, senior vice president, sold 461 Derby Ave.
The 2,262 s/f building is on .65 acres and was previously Enchanted Gardens and Ponds. It sold for $110,000 to Francis and Anna Conroy, who will be operating a retail store with a greenhouse called St. Anthony’s Gift and Flower shop.
“Although we had a high level of interest in this property because of the unique location, the sale was very challenging due to zoning concerns. Fred was extremely diligent in getting the deal completed, including advocating on the seller’s behalf with the town,” said Richetelli.
MORE FROM Brokerage
O,R&L Commercial facilitates $3.8m sale of 29,879 s/f mixed-use property
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.