Woodward of Colonial Properties completes two sales - $780,000
NEW HAVEN, CT According to Michael Richetelli, president and designat- ed broker of Colonial Properties, Inc., the following transactions have been completed: Tom Woodward, Realtor, served as the sole broker in the sale of 185-191 Whalley Ave., a 7,310 s/f freestanding multi-tenant retail building situated on 0.29 acres. The property was purchased by CT New Haven Properties, LLC for $550,000. The buyer plans to open a Papa John’s Pizza restaurant in the vacant unit previously occupied by a check-cashing business. The seller, RonnieSue, LLC, was represented by attorney Paul Kaplan of Levinson, Spiegel & Jackson. The buyer was represent- ed by attorney William Shapiro of Updike, Kelly & Spellacy P.C. Woodward also represented both sides in the sale of 247 Kimberly Ave., a 1,219 s/f freestanding commercial building on 0.23 acres. The property was purchased by Best Friends Real Estate, LLC for $230,000. The buyer intends to use the property for an automotive sales
185-191 Whalley Avenue - New Haven, CT
247 Kimberly Avenue - New Haven, CT
and repair business. The sellers, Giovannini Family Trust, were represented by attorney
Robert Scalise of Ericson, Scalise & Mangan. The buyers were repre- sented by attorney Lars Edeen, Jr.
WATERTOWN, MA The Watertown Mall, once slated for a transfor- mation into a life sciences campus, will instead remain a retail desti- nation after being sold for $100 million to National Development. According to the Boston Busi- ness Journal (BBJ), National Development purchased the 18- National Development purchases Watertown mall from Alexandria acre property from Alexandria Real Estate Equities, a Califor- nia-based firm that had acquired it in 2021 for $130 million. The sale, which closed on October 16, represents both a financial and strategic shift amid Boston’s changing lab market, according to BBJ .
Alexandria had proposed re- developing the mall — home to tenants like Best Buy and Target — into 500,000 s/f of lab and office space alongside retail. The plan reflected the demand for laboratory facilities in the city three years ago, when vacancy rates hovered near zero.
MULTI-FAMILY NORFOLK CABINETS & COUNTERTOPS SINCE 1934
RETAIL TRENDS & DEVELOPMENT
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