Retail Property in Manchester, CT Sells for $2.05M at $550/SF
525 Middle Turnpike W, Manchester, CT 06040, USA
A retail property located at 525 Middle Turnpike W in Manchester, CT has been sold for 2.05 million. The property was sold at a price of 550 per square foot, with a total square footage of 3,725. The deal was closed on November 19, 2020.
The buyer and seller of the property have not been disclosed. However, the broker for the deal was Matthew (Matt) Nadler.
The property is located in a prime retail area in Manchester, CT. It is situated on a busy street with high visibility and foot traffic. The property is surrounded by other retail stores, restaurants, and businesses, making it an attractive location for retailers.
The property itself is a single-story building with ample parking. It is currently occupied by a retail tenant, but it is unclear if the tenant will remain after the sale.
The sale of this property is indicative of the strong demand for retail properties in prime locations. Despite the challenges faced by the retail industry in recent years, well-located properties continue to attract buyers and command high prices.
Overall, the sale of 525 Middle Turnpike W in Manchester, CT is a positive sign for the commercial real estate market in the area. It demonstrates that investors are still willing to pay a premium for well-located properties with strong potential for future growth and income.