A pair of nearby commercial properties in Orange have sold in separate transactions for a combined $2.5 million.
The higher-grossing sale, 330 Boston Post Road, was a 7,450-square-foot retail building on the town’s main commercial strip. It traded hands for $1.51 million, with the seller, VCR LLC, represented by Michael Richetelli, president of Colonial Properties, and the buyer, Fahmy Khalil, represented by Richard Ballou of Houlihan Lawrence. Current tenants are an orthopedic walk-in clinic and a wireless zone cell phone store, Richetelli said in an email.
The less-pricey sale, 370 Boston Post Road, traded for $950,000. The 7,552-square-foot office space was fully leased to five tenants when it sold, Richetelli said. He represented the seller, Leo Zygleman, while buyer NECY Investments LLC was represented by attorney Paul Kaplan.
“These two Route 1 sales, located just a few doors away from each other, came together very quickly and seamlessly. They demonstrate the continued high demand in the marketplace for well located, stabilized commercial investment properties,” Richetelli said in a statement.