FAIRFIELD –– Angel Commercial, LLC is touting the closing of seven transactions in 40 days, including leases, subleases, sales and bankruptcy dispositions.
President Jon Angel attributes the activity to several factors, including high vacancy rates, high inventory leading to lower occupancy costs and upgrades to better buildings, and a greater interest in purchasing real estate by companies that had previously always leased buildings.
Among the transactions:
• Aurora Products purchased a 75,530-square-foot building at 205 Edison Road, Orange for $2.5 million. The U.S. Bankruptcy Court appointed Angel to handle the disposition of the former Finlay Jewelry building. Angel also represented the buyer, which packages natural and organic dried fruits, nuts, granolas and trail mix.
• Floor Shore Inc. leased an 11,000-square-foot building at 320 Quarry Road, Milford for a new distribution center.
• Hawley Management Group purchased an 8,000-square-foot building at 816 Honeyspot Road, Stratford for $440,000 and subsequently leased 6,000 feet to Stonehenge Marble & Granite, LLC. Jon Angel represented Bove Enterprises, LLC, while Angel commercial sales associate Patrick Bourque represented Hawley and Stonehenge.