Zion Properties LLC/Garavel Automotive Acquires Retail Property In Norwalk, CT For $3.95M

520 Main Avenue in Norwalk, CT, was recently sold in a retail transaction. The property, with a total square footage of 34,502, sits on 2.3 acres of land. The sale took place on April 16, 2021, and the property was purchased for $3,950,000, which translates to a price per square foot of $114. The seller, Morganth Properties LLC, was represented by Jeffrey Gage and Robert Crane from CBRE. The buyer, Zion Properties LLC/Garavel Automotive, was represented by Dan DiBuono from Tower Realty Corp.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,950,000
• Square Footage: 34,502
• Address: 520 Main Avenue, Norwalk, CT
• Market: Norwalk, CT
• Seller: Morganth Properties LLC
• Buyer: Zion Properties LLC/Garavel Automotive
• Seller's Representative: Jeffrey Gage & Robert Crane - CBRE
• Buyer's Representative: Dan DiBuono - Tower Realty Corp
• Price per Square Foot: $114
• Acreage: 2.3

The sale of 520 Main Avenue was finalized with the involvement of notable individuals and companies. Jeffrey Gage and Robert Crane from CBRE represented the seller, Morganth Properties LLC, while Dan DiBuono from Tower Realty Corp represented the buyer, Zion Properties LLC/Garavel Automotive. This transaction marks an important deal in the Norwalk, CT retail market.