Vitti and Bellard of Colonial Properties complete three transactions - $1.4 million

Derby, CT Michael Richetelli, president and designated broker of Colonial Properties, Inc., has completed three recent transactions totaling $1.4 million in sales and lease consideration.

Tony Vitti, Realtor with Colonial Properties, served as the sole broker in the sale of 182 & 184 Elizabeth St. in Derby, a fully-leased mixed-use investment property totaling  7,000 s/f situated on 0.14  acres. The property sold to private investors for $595,000.

The seller, EYI Properties, LLC, was represented by attorney Brian Lema, Esq. of Berchem Moses PC in Milford, Conn. The buyer was represented by attorney Thomas Gerard Egan, Esq. of Egan Law, LLC in Ansonia, Conn.

Gary Bellard, CCIM, associate broker with Colonial Properties, was the sole broker for his representation of the landlord, Leveraged Equities, LLC, in two retail lease transactions totaling 6,110 s/f at 464 Boston Post Rd. in Orange, Conn.

The first lease consisted of a 3,100 s/f retail end-cap space leased to Marathon Sports under a five-year agreement. Marathon Sports is a premier athletic footwear retailer with 29 locations throughout New England and is widely recognized for its strong community involvement and sponsorship of local racing events.

Bellard also represented the landlord in the leasing of a 3,010  s/f retail space to The Head Spa under a seven-year lease agreement. The Head Spa, a full-service salon relocating from Milford, will bring a range of professional hairstyling and wellness services to Orange.

 “These transactions reflect the continued demand for well-positioned investment and retail properties throughout the region,” said Michael Richetelli. “We congratulate everyone involved and appreciate the opportunity to help our clients achieve their real estate goals.”

Colonial Properties, Inc., founded in 1978, is a full service commercial and residential real estate brokerage, located in Orange, CT.  The firm handles all types of 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.