Vitti of Colonial Properties represents buyer in $2.2 million sale

Michael Richetelli, president and designated broker of Colonial Properties, Inc., has announced the completion of the following transaction.

Tony Vitti represented the buyer, MNBD, LLC in the purchase of a 53,000 SF +/- industrial complex on 6 +/- acres located at 252-262 Depot Road, Milford. The property consists of three buildings and was purchased for $2,225,000 from Kahuna Realty Group, LLC. The listing brokers were Bruce Wettenstein and Scott Zakos of Vidal Wettenstein. The buyer’s attorney was Brian Lema of Berchem and Moses in Milford; the seller was represented by Attorney Robert Cox of Halloran and Sage LLP in New Haven.

“This sale reinforces that properties in the industrial sector remain in high demand,” said Richetelli. “While some asset classes such as retail and office are not as strong right now, industrial and light industrial properties, especially owner/user properties remain in short supply.”

Colonial Properties, Inc., founded in 1978, is a full service commercial and residential real estate brokerage, located in Orange. The firm handles all types of real estate transactions including the sale and leasing of retail, industrial, office, investment properties, and residential properties, as well as brokering land and business sales.