Michael Guidicelli, CCIM, SIOR of Regions Commercial Real Estate Advisors was the sole broker in the leasing of 10,000 SF of office space to the State of CT and simultaneously completes the sale of 484 Main St., Middletown, CT for the second time in 3 years for $2,015,000 which represents approximately a 25% value appreciation.
Regions Commercial was the sole broker in the sale representing the Seller, a private investor based out of Litchfield County, and the Buyer, a group of investors based out of New Haven, CT. These transactions exemplify Mr. Guidicelli’s ability to effectively maximize his client’s wealth through market expertise, procuring tenants, negotiating and consummating lease transactions, and matchmaking investors with profitable investments.
484 Main St. is a 27,000 SF, multi-tenant, professional office and retail building located at the corner of Washington St. and Main St. in a growing Downtown area and has been home to the State of Connecticut’s Judicial Department for over 20 years. The building was 100% occupied at the time of sale.
Middletown has attracted many new businesses and has seen significant growth and expansion over the past several years. The Buyer intends to increase the quality of the building and Tenants through hands-on management and improvements to the common areas and building infrastructure.
For additional details on this property or to learn how Regions Commercial Real Estate Advisors can be of benefit to you in the sale or leasing of your commercial investment real estate, please contact us today at 860.854.6500.