Milford Commercial Building Sells for $1 Million

Jon Angel, President of Southport-based Angel Commercial LLC, said Wednesday that the sale of a retail investment property located at 773 Bridgeport Avenue in Milford sold for more than $1 million.

The 4,800 square-foot building on 0.3 acres sold for $1,096,000 from H & S Olson LLC to private investors. PPG Paints will remain as the tenant in this building, according to a media release.

“The property at 773 Bridgeport Avenue is a sound retail investment, “ states Angel, who represented the seller in this transaction. “The building is fully leased to a single tenant with a corporate guarantee from a Fortune 500 Company, PPG Industries.”

Headquartered in Pittsburgh, PA, PPG Industries (NYSE: PPG) is ranked 198 on the Fortune 500 list (June 2015) and announced 2014 net sales of $15.4 billion, according to a prepared statement.

With approximately 46,100 employees worldwide and 141 manufacturing facilities in 44 countries, PPG Industries is the leading global coatings and specialty products company.

“Angel Commercial LLC currently has four other properties for sale with PPG Paints as the tenant,” notes Angel in a prepared statement. “Three Connecticut properties in Danbury, Bridgeport, and Waterbury and one Massachusetts property in Springfield.”