January 23, 2008
Rick Chozick of Chozick Realty has arranged the sale of the Accra Plaza located at 168 Burnside Ave. The Accra Plaza transaction was arranged on behalf of the owner, Accra Market LLC, who was also the developer and anchor tenant located at the property.
Constructed in 2005, the Accra Market occupies 5,400 s/f as a specialty food market. The remaining building area was not completed at the time of construction and has been delivered as raw space.
Chozick Realty as the sole broker in this transaction worked in cooperation with the seller, the seller’s attorney Marty Clayman of Clayman, Tapper and Baram in Bloomfield, Conn. and the seller’s lender’s attorney Larry Dvorin of Ford & Paulekas LLP located in Hartford, Conn.
In conjunction with the sale of the property the Accra Market entered into a lease agreement to continue to occupy their existing space.
The purchaser, 168 Burnside LLC plans to complete the remainder of the construction required to lease the balance of the retail space.
Chozick was the sole broker in this transaction. The sale price was $472,000 with the purchaser taking responsibility for completion of construction.