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Connecticut
Posted: September 16, 2016
Richetelli of Colonial Properties brokers $2.5 million sale in Orange
Michael Richetelli, Colonial Properties
200 Boston Post Road - Orange, CT
Orange, CT Michael Richetelli, president and designated broker of Colonial Properties, Inc. completed the sale of Contempo Square Plaza at 200 Boston Post Rd. The 22,475 s/f shopping center sits on 2 acres and is comprised of a mix of retail and office tenants.
Richetelli represented the seller, Contempo Post Associates, LLC. The buyer, 200 Boston Post Road LLC, was represented by Nick Mastrangelo of Weichert Realtors.
The attorney representing Contempo Post Associates was Erin Cabelus of The Jackson Law Group CT. The buyer was represented by the Law Offices of Donald H. Brown.
“Investment properties available for sale along this premier retail corridor are scarce, with typically several barriers of entry for this market. This sale was mutually beneficial, as the seller was able to dispose of a fully depreciated asset and deploy the capital elsewhere and the Buyer was able to attain a stabilized investment property in this highly coveted market,” said Richetelli.
The firm handles commercial and residential real estate transactions including the sale and leasing of retail, industrial, office, investment properties, and residential properties, as well as brokering land and business sales.
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Connecticut
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