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Colonial Properties Closes Two Deals Totaling $1.86 Million

Colonial Properties Closes Two Deals Totaling $1.86 Million

Michael Richetelli, President and Designated Broker of Colonial Properties, Inc. is pleased to announce the sale of two properties totaling $1.86 million. 273 Indian River Road in Orange, a 17,500 SF +/- office/light industrial building on 2 acres, sold for $1.013 million to Connecticut Pest Elimination, Inc. CT Pest, owned by Michael Lipsett, is a family run business that has served Connecticut for over 20 years. Mike Richetelli, represented the Seller, 273 Indian River Road Office Park, LLC and was the sole broker in the transaction. Chuck Willinger of Willinger, Willinger and Bucci, P.C. in Bridgeport was the attorney for the Buyer and Joe Friedler of Friedler and Friedler, P.C. in New Haven was the attorney for the Seller.

The Lake House
The Lake House

Fred A. Messore, Senior Vice President at Colonial Properties, represented the Buyer in the purchase of the former Lake House Bar & Grill building, at 377 Roosevelt Drive in Seymour. The 2,606 SF +/- building on .41 acres sold for $850,000 to CYN Realty LLC, dba Stone’s Throw Restaurant. Stone’s Throw will be owned and operated by Peter Hamme, former owner/chef of Stone House Restaurant in Guilford. The Seller was represented by Audra DiGello of Weichert Regional Properties in Orange. Attorney Greg Lattanzi of New Haven was the attorney for the Buyer and Attorney Jeff Tuccio of Lyons, Lyons and Tuccio in Ansonia was the attorney for the Seller.

“Both of these sales reinforce a continued trend we have been observing in the market of Owner/Occupied commercial sales. These companies will be valuable additions to their respective communities ”, 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 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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