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September 21, 2021 REAL ESTATE

Milford, Wallingford mixed-use shopping centers sold

PHOTO | CONTRIBUTED 100 Lansdale Ave., Milford
By Michelle Tuccitto Sullo

A Milford shopping plaza, home to businesses such as Honeyspot Pizza and Pearl Nails & Spa, sold recently for $9 million. 

The deal was among several handled recently by Shelton-based Northeast Private Client Group.

The shopping center, at 100 Lansdale Ave., Milford, includes a 43,634-square-foot building. About half of that space is made up of 10 separate commercial businesses, while the residential portion features 23 apartments. 

A mixed-use building at 319-343 North Colony Rd., Wallingford, sold for $2.16 million. The 16,520-square-foot building has 12 residential units and seven commercial suites, ranging from retail to restaurant to medical office uses.

This property on North Colony Road, Wallingford sold recently for $2.16 million.

The company also recently handled the sale of Southford Plaza, at 1481 Southford Rd., Southbury, which sold for $1.95 million. The property includes seven commercial spaces and four apartments.

City Place Apartments, at 10-16 Washington St., New Britain, sold for $4.15 million. The property has a free-standing restaurant, two retail suites and 53 residences.

Bob Paterno, investment associate with NPCG, said there is a “growing demand for stabilized mixed-use and retail properties offering higher returns,” as he said traditional multifamily markets are becoming increasingly competitive.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

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