Boston Post Road land sale goes through for $7.5 million
Pearce Real Estate announced the sale of a 22-acre parcel in Milford. The seller was Jordan Realty LLC, and the buyer was Metro Star Properties, for the price of $7.5 million. Frosty Smith of Pearce Real Estate represented the seller in the transaction.
The 22-acre property includes 1,100 feet of frontage on the Boston Post Road (US Route 1) and 300 feet of frontage on the Connecticut Turnpike (I-95) at the four-way exit/entrance at Exit 36. It is zoned for commercial use. The buyer has programmed four distinct uses for the property, and has received site plan approval from the Milford Planning & Zoning Board for:
- Six acres that will be sold to the City of Milford for a new police station.
- A 60,000-square foot retail center.
- A 110-unit hotel.
- 160 residential apartment units.