Michael Guidicelli, CCIM, SIOR of Regions Commercial, LLC in Glastonbury, CT recently completed the sale of a 100% occupied, multi-tenant strip center at 9-11 Covey Rd. and contiguous vacant land at 245 Spielman Highway, Burlington, CT for $850,000. Mr. Guidicelli was the sole broker in the transaction.
The property went under contract within one week of hitting the market and closed within 40 days of contract execution, with financing provided by Collinsville Savings Society in Canton, CT. The buyer purchased this property as part of an investment strategy to deploy capital opportunistically into commercial real estate and diversify his portfolio to achieve higher leveraged returns in comparison to the securities market. This transaction exemplifies Regions Commercial’s data-driven marketing platform to connect buyers and sellers.
For more information on this property, to discuss leveraging the Regions Commercial’s approach to benefit you in the sale or leasing of your commercial investment real estate, or to discuss joining our growing team, please contact us today at 860-854-6500 and ask for Michael Guidicelli.