Garavel Automotive Acquires Property From Morganth Properties LLC For $3.9M With Buyer's Rep Dan DiBuono

The property involved in this transaction is located at 520 Main Ave, Norwalk, CT, within the Norwalk market. The deal was completed for a price of $3,900,000.00, encompassing a site measuring approximately 2.3 acres. The new owner will establish a Subaru dealership, which will occupy 34,502 square feet, on the former site of the Best Friends Pet Hotel.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $3,900,000.00
• Address: 520 Main Ave, Norwalk, CT, 06851
• Buyer: Garavel Automotive
• Seller: Morganth Properties LLC
• Buyer's Representative: Daniel "Dan" DiBuono
• Seller's Representative: Jason Lundy-JLL
• Market: Norwalk
• Site Size: 2.3 acres
• Square Footage for Dealership: 34,502 sq ft

This transaction involved key representatives including Daniel "Dan" DiBuono from Tower Realty Corp., acting on behalf of the buyer, Garavel Automotive, and Jason Lundy from JLL representing the seller, Morganth Properties LLC. The dealership's development is positioned in a coastal area of Connecticut, indicating a strategic move for Garavel Automotive's expansion.