Michael Guidicelli, CCIM of Regions Commercial, LLC completes the sale of 484 Main St., Middletown, CT for $1,600,000.
Regions Commercial, LLC was the sole broker representing the Seller, Santo and Dale Vinci of Cromwell, CT and the Buyer, Icarus IV, LLC of Litchfield County, CT.
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 Middletown and has been home to the State of Connecticut’s Judicial Department for over 20 years. The building was 95% occupied at the time of sale and traded at a capitalization rate greater than 10%.
The Buyer, Icarus IV, LLC, intends to increase the quality of the building and Tenants through hands-on management and improvements to the common areas and building infrastructure.
Michael Guidicelli, CCIM procured the buyer within 4 months and closed the deal within approximately 30 days of signing. Regions Commercial, LLC has been retained as the new leasing agent.
For additional details on this property or to learn how Regions Commercial, LLC 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.