News: Brokerage

Reno Properties Group arranges $880,000 sale of mixed-use property

Newington, CT A 2,106 s/f retail building on 0.51 acres located at 1125 Willard Ave. has sold for $880,000. Newington-based commercial real estate firm Reno Properties Group represented the seller and the buyer in the transaction. The visible property sits at a signalized corner of Willard Ave. and Robbins Ave. with a bus thoroughfare, offering exposure and easy access for both vehicle and pedestrian traffic. Currently, the building is home to Nicolas Pizza & Mexican Eatery and Quick Stop Convenience Store, two long-standing neighborhood businesses. 

“This sale reflects the strength of the central Connecticut retail market,” said Dan Garofalo, principal and managing broker of Reno Properties Group. “Locations with strong visibility and established tenants continue to attract serious buyers, and we’re pleased to have facilitated a successful transaction for both parties.” 

The sale underscores continued demand for well-located retail assets in central Connecticut, especially those with established tenants and strong visibility. With this transaction, Reno Properties Group further demonstrates its strength in both retail and investment property sales across the region. Reno continues to be a trusted partner for buyers and sellers seeking expert representation in the Connecticut commercial real estate market. 

Based in Newington, CT, Reno Properties Group, LLC is a full-service commercial investment brokerage firm with long-standing experience in commercial real estate transactions. Reno’s team of commercial and investment professionals provide sales, leasing, property management, receivership, construction management and investment real estate services.

MORE FROM Brokerage

Kelleher and Pentore of Horvath & Tremblay sell a 15-unit multi-family property in Chelsea, MA for $3.55 million

Chelsea, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 15 units for $3.55 million.  827-835 Broadway, which is a value-add type asset, is situated in a high-density, urban-infill neighborhood.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas

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

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.