May 15, 2006
Belfonti Associates, LLC Announces $3.75 Million Sale of Prime Development Parcel in Windsor, CT
HAMDEN, CT– Just shortly over a year after its acquisition, Michael Belfonti, President and CEO of Belfonti Associates, LLC, has announced the sale of approximately 10 acres of land at 1035, 1045, 1055 and 1065 Kennedy Road in Windsor, Connecticut to Massachusetts-based National Development Acquisitions, LLC for $3.75 million.
Kennedy Windsor Retail Associates, LLC, a Belfonti-related entity, had acquired the site in November 2004 from Kmart Corporation. The site is comprised of four contiguous parcels of land containing a total land area of approximately 424,453 square feet. It is currently improved with two parking lots containing 576 spaces and 676 spaces respectively. The site is zoned for approximately 80,000 square feet of development and has approximately 600 feet of frontage on Kennedy Road. A Super Stop & Shop and a currently vacant K-Mart building, not part of the sale, are adjacent to the parcel.
In announcing the sale, Michael Belfonti commented: “When we originally acquired the property, we knew it had enormous potential for a free-standing restaurant or another commercial pad site. The Kennedy Road corridor is and will continue to be a central artery for economic development in the region.”
Belfonti Companies, LLC Real Estate Development and Investment, with a central office located in Hamden, Connecticut, actively and aggressively pursues opportunities throughout the United States and internationally.