Orange Shopping Center Has a New Owner

ORANGE, CT — Michael Richetelli, President and Designated Broker of Colonial Properties, Inc. announced the sale of Contempo Square Plaza, 200 Boston Post Road (US1) in Orange, CT.

The 22,475 sf +/- shopping center sits on 2 acres of land and is comprised of a mix of retail and office tenants. Michael Richetelli represented the Seller, Contempo Post Associates, LLC. The Buyer, 200 Boston Post Road LLC, was represented by Nick Mastrangelo of Weichert Realtors.

“Investment properties available for sale along this premier retail corridor are scarce, with typically several barriers of entry for this market. This sale was mutually beneficial, as the Seller was able to dispose of a fully depreciated asset and deploy the capital elsewhere and the Buyer was able to attain a stabilized investment property in this highly coveted market.", said Richetelli in a statement.