Colonial Properties, Inc., which is based in Orange, was involved in the $2.2 million sale of a Milford industrial complex.
Tony Vitti of Colonial represented the buyer, MNBD, LLC in the purchase of the approximately 53,000 square-foot complex on six acres of land at 252-262 Depot Rd. 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 Michael Richetelli, Colonial’s president and designated broker. “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.”