Londregan Commercial Real Estate Group represents seller
HB
Nitkin sells Latimer Brook Commons for $3.7m
East Lyme, CT - The HB Nitkin Group
has sold Latimer Brook Commons to an affiliate of The Giegerich Company
for $3.7 million.
The seller was represented by Tim Londregan of Londregan Commercial.
Latimer Brook Commons, located at the intersection of Flanders Road
and Post Road near exit 74 of I-95, is a 35,000 s/f two story building.
The lower floor contains professional offices and the upper floor
con-tai ns residential units.
HB Nitkin purchased the property in 1994 for $1.875 million from
the FDIC after it acquired the property from the New England Savings
Bank,
which was taken over by the FDIC. The HB Nitkin Group then upgraded
and improved the property and released the vacant space to professional
tenants including Lawrence & Memorial Hospital.
The HB Nitkin Group specializes in acquiring well located properties
to which it can add value through property upgrades and improvements
and through re-tenanting. The firm owns approximately 1.3 million
s/f of retail and office space in Connecticut and New York.
According to Bradley Nitkin, the president of the HB Nitkin Group,
the company is currently selling several non core assets that it has
held for a number of years and is looking for new investment opportunities.
Londregan Commercial Real Estate Group is a full service brokerage firm located in Old Saybrook, Connecticut. While specializing in the retail and fast food site selection niches, Londregan Commercial is highly sought after for its marketing and closing abilities in all areas of commercial real estate. Retail and restaurant land sites, investment properties of all types, hotel and motel sites have also been an integral part of the firm's activity. For more information please visit www.londregan.com. |
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