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Brokerage
Posted: June 24, 2016
Smith and Russell of Pearce Real Estate complete $1.25 million sale
DeForest Smith, Pearce Real Estate
990 Boston Post Road - Milford, CT
Carl Russell, Pearce Real Estate
Milford, CT According to Barbara Pearce, CEO and president of Pearce Real Estate, DeForest Smith, CCIM, SIOR and senior vice president, and Carl Russell, CCIM, SIOR and senior broker, both from the Milford Commercial Office, have completed the sale of 990 Boston Post Rd. for $1.25 million. The property is currently occupied by Hooters Restaurant which will undergo extensive renovation. Russell represented the seller, Viber Associates, LLC and Smith represented the buyer, Jordon Realty LLC.
“This is an unusual sale in that it qualified under Section 1031 of the IRS Code as a Tax Deferred Exchange,” said Pearce.
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