Orange Commercial Property Sells For $2.2 Million

ORANGE, CT — Michael Richetelli, President and Designated Broker of Colonial Properties, Inc., announced that a commercial building on Route 1 sold for $2.2 million. Gary Bellard, CCIM and Commercial Real Estate Broker with Colonial Properties, Inc., represented the Seller, 363 Boston Post Road Associates, LLC, in the sale of 363 Boston Post Road, Orange, a 15,300-square-foot commercial building, for $2.2 million.

The buyer was represented by Fred A. Messore, Senior Vice President, of Colonial Properties, Inc. The single-tenant investment property was completely renovated about eight years ago and is the long-time home of Porch & Patio, which will remain a staple on the Post Road in Orange.

“ This property was on the market for a very short time and traded at a very low cap rate, demonstrating the strong demand in the marketplace for quality investment properties," said Richetelli in a news release.