Commercial Real Estate News
Acquisition & Disposition
Former Site of Joe’s American Bar & Grill Restaurant Sells for $3.9 Million
FAIRFIELD, CT – October 19, 2020: The former site of Joe’s American Bar & Grill Restaurant in Fairfield, CT, has sold for $3,905,000, announced Jon Angel, President of Angel Commercial, LLC, a commercial real estate firm based in Southport, CT. The deal included the adjacent land at 42 Eliot Street, where Colonial Haircutters continues to operate. Collectively, the properties have 305 linear feet of frontage on the Post Road.
“The purchaser was 750 Associates, LLC, an out-of-state investor, who plans to offer the site for lease via a land lease or a build-to-suit opportunity,” states Angel, who represented both parties in this transaction. “The site consists of approximately 2 acres of land in a DCD zone that permits greater density than the existing structure formerly occupied by Joe’s American Bar & Grill Restaurant. The seller was SERRE Limited Liability Company who held the property for decades and elected to offer the premises for sale when the tenant chose to shutter their business at this location.”
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.