Commercial Real Estate News
Acquisition & Disposition
Bridgeport Parking Garage Sells for $1.1 Million
BRIDGEPORT, CT – SEPTEMBER 21, 2020: A parking garage located at 95 Chapel Street in Bridgeport, CT, has sold for $1,100,000, announced Jon Angel, President of Angel Commercial, LLC, a commercial real estate firm based in Southport, CT. The investment property, previously owned by Geza Scap, was purchased by 38-2112th Street Partner, LLC.
“The fully leased parking garage is in a Designated Opportunity Zone in the heart of the Government hub in Bridgeport, CT,” states Angel, who represented both parties in this transaction. “This was part of an IRS Code 1031 Exchange.”
The property in a DVD Civic Zone is a 34,428 SF two-story garage with rooftop parking on .58-acres and provides 140 paved and lighted spaces. It is currently leased to the State of Connecticut. It is within walking distance from the Superior Court, Bridgeport City Hall, Police Department, Downtown Cabaret Theater, Messiah Baptist Church, and apartment buildings. The parking garage is less than half a mile to Route 8 / Route 25 Connector, less than one mile to I-95, and 4.8 miles to the Merritt Parkway (Route 15).
Angel Commercial, LLC, is an award-winning full-service commercial real estate brokerage firm headquartered in Fairfield County, Connecticut. The company specializes in the acquisition, disposition, and leasing of office, industrial, retail, land, investment, and development properties on a local and national level. Visit Angel Commercial, LLC, on the web at www.angelcommercial.com.