A midcentury retail plaza in Branford has traded hands for just shy of $19 million.
The Shoreline Plaza, built in 1962, was bought by an LLC controlled by Hamden developer Joe Moruzzi. The seller was an LLC controlled by New Haven businessmen Albert Mastrobuoni and Antonio Rossano.
Branford-based commercial brokerage O,R&L Commercial’s Frank Hird represented the sellers and procured the buyer in the $18.95 million deal.
The 77,037-square-foot shopping plaza is made up of two buildings: a 40,000-square-foot structure housing a Staples and an InShape Fitness location, and a 37,000-square-foot single-story retail building with tenants like Coastal Wine & Spirits, Shoreline Prime Meats & Deli and medical offices.
Located on Route 1 directly between Branford Center and Exit 54 on Interstate 95, the 7.84-acre property was last sold in 2003 for $100,000, public records show. The property is appraised at $7.82 million.