Mixed-Use Property Sold For $595K In Derby

DERBY, CT — Colonial Properties, Inc. President Michael Richetelli announced Friday a Derby property was recently sold to private investors for $595,000.

According to a news release provided by Colonial Properties, the Derby property was one of three recent transactions totaling approximately $1.4 million in sales and lease consideration.

Tony Vitti, a realtor with Colonial Properties, served as the sole broker in the sale of 182 and 184 Elizabeth Street in Derby, a fully leased mixed-use investment property totaling approximately 7,000 square feet, according to the release.

The Derby property is situated on about 0.14 acres, the release notes.

The seller, EYI Properties, LLC, was represented by Attorney Brian Lema of Berchem Moses PC in Milford, and the buyer was represented by Attorney Thomas Gerard Egan of Egan Law, LLC in Ansonia, according to the release.

In addition to the Derby property, Colonial Properties also announced two retail lease transactions at 464 Boston Post Road in Orange.

"These transactions reflect the continued demand for well-positioned investment and retail properties throughout the region," Richetelli said in a news release. "We congratulate everyone involved and appreciate the opportunity to help our clients achieve their real estate goals."