Michael Richetelli, President and Designated Broker of Colonial Properties, Inc., is pleased to announce the completion of the following transaction.
Michael Richetelli, President/Broker, and Fred A. Messore, Senior Vice President, of Colonial Properties, were the sole brokers in the sale of 190 Boston Post Road, Orange. The property consisted of a 28,760 SF +/- commercial building on 5.57 acres and sold for $3,150,000. The building was vacant and had most recently been tenanted by Nations Furniture and a discount fabric store. Colonial represented the Seller, Estate of Elizabeth Breiner. The Buyer, Amerco Real Estate Company, plans to use the property to expand the operations of the Uhaul center they operate on the adjacent property.
“We are pleased to announce this sale, as this property had been vacant and blighted for a number of years. This sale truly was a win/win situation for all parties. The Seller realized a healthy, full market sale price, the Buyer was constrained with space on their existing facility and is now able to get much needed land for their rental vehicles as well as get access to a traffic signal. The town is also pleased, as this property is being cleaned up.”, 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.