SCRE Brokers $47.4 Million Sale

October 14, 2014

Penny Wickey and Daniel Neaton of Saugatuck Commercial Real Estate (SCRE) represented the sellers of three mixed-use properties totaling 95,000 s/f located in Cos Cob and Old Greenwich.

The property in Cos Cob is a three-story, 48,000 s/f mixed-use property located on the Boston Post Rd. (Rte. 1). The property is anchored by a 15,600 s/f CVS Pharmacy and houses other retail tenants including Robek’s, Domino’s Pizza and Member’s Credit Union. The property also contains second floor offices and third floor apartments. The property was built in 1986 and was originally occupied by Porricelli’s Market.

The property in Old Greenwich includes several mixed-use properties including a newly renovated 18,200 s/f King’s Supermarket which replaced the Porricelli Market in 2013. The property is comprised of over 40,000 s/f and is adjacent to the Old Greenwich train station.

The property was purchased by Urstadt Biddle for $47.4 million. SCRE was the sole broker involved in this transaction.