Nicholas Morizio, SIOR, CRE of Colliers International received a Blue Ribbon Award for Most Significant Retail Transaction at the 16th annual Real Estate Awards. Morizio was recognized for the sale of 38-40 Tunxis Ave. in Bloomfield, a 58,634 s/f multi-tenant shopping center.
This is the second time Morizio has sold the Filley Pond Plaza. The first sale occurred after the anchor tenant, Frank's Nursery vacated the property. He secured an investor, the now former owner, Tunxis Fund LLC to purchase the center for $1.05 million.
Tunxis Fund repositioned the shopping center and made a number of improvements. Morizio secured several new tenants, including a grocery anchor. At the time of the sale on December 30, 2010, the plaza was fully leased. Due to leasing at the shopping center the value was greatly increased. DeLaurentis Management Corp. purchased the property for $4 million.