Stratford, CT – It was recently announced that the Olson Steel property at 245 Access Road in Stratford has been sold. The purchaser was a division of Norwalk Marine Contractors which had been occupying the property for the past 15 years. George Shawah of Baldwin Pearson Company and Bruce Wettenstein of Vidal/Wettenstein had negotiated the lease for the tenant in 2010 with options to renew and a purchase option at the termination of the lease. That purchase option was exercised and the property closed. The 25,000 square foot building on 4 acres of industrial zoned land sold for $1,650,000.00. The tenant had completed many improvements to the property which were reflected in the sales price. George Shawah of Baldwin Pearson and Bruce Wettenstein of Vidal/Wettenstein were the brokers involved in the transaction.
