Office, Retail Buildings Sold In Large Orange Transactions

Information via Colonial Properties

ORANGE, CT — Michael Richetelli, President and Designated Broker of Colonial Properties, Inc., is pleased to announce the completion of the following transactions.

Michael Richetelli represented the Seller, VCR, LLC, in the sale of 330 Boston Post Road in Orange, a 7,450 SF +/- multi-tenant retail building on .85 +/- acres. The Buyer, Fahmy Khalil, was represented by Richard Ballou of Houlihan Lawrence. The property was purchased for $1,510,000 and was occupied by an orthopedic walk-in clinic and a wireless zone cell phone store. The Seller’s legal representation was by Attorney Gabriel Cusanelli of New Haven; the Buyer was represented by Attorney Max Rosenberg at Rosenburg & Hite, LLC in Stratford.

Richetelli also represented the Seller, Leo Zygleman in the sale of 370 Boston Post Road in Orange. The 7,552 SF +/- professional office building on .57 +/- acres was purchased by NECY Investments, LLC for $950,000. The property is a fully leased office building occupied by five tenants. The Seller was represented by Attorney Gary Lorusso with Tierney, Zullo, Flaherty & Murphy, P.C in Norwalk; the Buyer was represented by Attorney Paul Kaplan in New Haven, CT

“These two Route 1 sales, located just a few doors away from each other, came together very quickly and seamlessly. They demonstrate the continued high demand in the marketplace for well located, stabilized commercial investment properties”, said Richetelli.

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.