Michael Guidicelli, CCIM, SIOR of Regions Commercial, LLC recently completed the sale of a Medical Office building 100% leased to St. Mary’s Hospital located at 70 Heminway Park Rd., Watertown, CT for $695,000.
This transaction represents the second SIOR member-to-member transaction for Mr. Guidicelli in as many weeks. Martin Zeeb, SIOR, Owner of Zeeb Commercial Real Estate in Southern California represented the Buyer and Michael Guidicelli, CCIM, SIOR represented the Seller.
The property went under contract at full asking price within one week of this property hitting the market and closed within 30 days of contract execution. The Buyer purchased this property in cash as part of a 1031-Exchange and found particular interest in the Connecticut investment sales market which is seeing returns almost double than what properties are trading for in Southern California.
Michael commented, “It was an enjoyable experience working with fellow SIOR Martin Zeeb. Marty exemplifies what SIOR is all about, the “Best of the Best” – having met stringent production, education, and ethical requirements. Given the complexities and fast-approaching deadlines of the 1031-exchange, and the competive bid environment, it was the SIOR designation that set apart Mr. Zeeb’s offer from the others as it gave the Seller comfort knowing that he was dealing with a recognized dealmaker.”
For additional details on this property, to learn how leverage the Regions Commercial 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.