Colonial Properties facilitates three transactions totaling $820,500

Milford, CT Michael Richetelli, president and designated broker of Colonial Properties, Inc., has completed several commercial real estate transactions.

Michael Richetelli and Nicholas Richetelli, Realtor, served as the sole brokers in the sale of 65 Cherry St., Unit C-2, Milford, a 1,890 s/f commercial condominium. The property sold for $291,500 to Amanda Hershman, who plans to open Skinday, a medical spa.

The seller, Cheryl Monterosso, was represented by Attorney John Carangelo of the Law Offices of John J. Carangelo, LLC in Orange, CT. The buyer was represented by Attorney Peter Hershman of Hershman Legal Group in Branford, CT.

In Derby, Fred Messore, vice president/Broker, represented the buyer in the purchase of 433 Roosevelt Dr., a 3,000 s/f freestanding commercial building situated on 0.53 acres. The property sold for $500,000 to Superior Water and Radon Systems, LLC, a family-owned business that provides comprehensive well water services throughout the state.

The seller was represented by attorney Joseph Dey II of Dey, Smith, Steele, LLC in Milford, Conn. The buyer was represented by attorney Dominick Thomas of Cohen and Thomas, Attorneys at Law in Derby, Conn.

Additionally, Messore represented Superior Water and Radon Systems, LLC in the sublease of its former 1,600 s/f commercial space at 688 Derby Ave., Seymour, Conn., to Black Rock Theater of Fairfield, Conn for $29,000. 

“These sales demonstrate the continued demand for owner/user properties. There is a lack of inventory for these type of listings and they do not typically stay on the market very long”, said Richetelli.