Industrial Building Sells For $2.09M In Orange

ORANGE, CT — A more than 22,000-square foot industrial building recently sold for $2.09 million in Orange, according to realtors.

Michael Richetelli, President and Designated Broker of Colonial Properties, Inc., recently announced the sale of 283 Indian River Road in Orange.

Kosta Eliopoulos, a realtor with Colonial Properties, Inc., represented the buyer, HIS Group, LLC, in the purchase of 283 Indian River Road, a more than 22,090-square-foot freestanding light industrial building situated on 2.5-plus acres, according to a news release. The property sold for $2,090,000.

The buyer acquired the property as an investment, according to the news release.

The building is currently occupied by Kelvion Corporation and a business specializing in boiler parts.

The seller, PTNT Properties, LLC, was represented by Bruce Wettenstein, Managing Partner of Vidal/Wettenstein in Westport.

The seller was represented by Attorney Peter Ambrose of Ambrose & Strazza, LLC in Fairfield. The buyer was represented by Attorney Nate Hakanoglu of Hakanoglu Law in West Haven.

“This was a very appealing industrial investment opportunity, which are in high demand and short supply,” Richetelli said. “We were pleased to be able to present this property to our client and facilitate a successful negotiation and purchase.”