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Norwalk Property Sold for Subaru Dealership Development

Image courtesy of Google Maps

The $3.95 million purchase of 520 Main Ave. in Norwalk will clear the way for its redevelopment as a Garavel Subaru dealership.

Zion Properties LLC/Garavel Automotive acquired the 2.3-acre property, which contains a 34,502-square-foot structure previously leased to Best Friends Pet Hotel.

Norwalk-based Garavel Subaru plans to relocate to the property, having previously acquired a nearly 3-acre parcel previously owned by Ethan Allen as part of a development site assemblage.

CBRE’s Jeffrey Gage and Robert Crane represented seller Morganth Properties LLC and performed a building condition assessment and environmental study for the property.

In a statement, Gage said the property received interest from multiple retail users as well as the dealership.

Dan DiBuono of Tower Realty Corp. represented Garavel Automotive in the negotiations.