TRANZON Brought in to Auction Off Former F.S.I. Commercial Building in West Haven

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Jul 14, 2010, 10:05 ET

NEW HAVEN, Conn., July 14 /PRNewswire/ -- Coming off of several high profile successes with larger companies disposing surplus assets as part of larger restructuring, New York based TRANZON, Integrated Property Group ("TRANZON, IPG") has commenced an accelerated marketing campaign for the sale of a frozen food processing plant formerly occupied by Matlaws Food Products and more recently Frozen Specialty, Inc (F.S.I.). The property is located at 135 Front Ave in West Haven and Tranzon's accelerated marketing campaign will culminate with a public auction on July 29th at 12:00PM.

The property, consisting of 43,000+/- SF on almost 2.4+/- acres of land is located just a 1/2 mile from I-95 making it an ideal hub for almost any business. "With 4,000+/- SF of office, 9 loading docks that include a drive-in overhead door, and varying ceiling heights up to 22', our marketing is being geared towards a wide range of potential users," said Oren Klein, Auctioneer and Partner at TRANZON, IPG.

"In addition, this property will have great appeal to shrewd investors because an opportunity was created here when the former tenant moved out," said Joshua Olshin, President of TRANZON, IPG. He adds, "The property is suitable for almost any type of use, evident from the pre-auction interest received from the trucking, storage, frozen food manufacturers and distribution type companies. As opposed to re-leasing the property, the current owners decided to move to auction because of their own needs to quickly and efficiently sell the property".

Having been on the market last year for over $1.2M, the minimum bid at auction will be only $399,000, less than $10 per SF. "Anyone familiar with the market here knows that this is an unbelievable opportunity. Comparable properties in the area have been trading at twice this amount," notes Mike Richetelli, the listing broker of the property and President of Colonial Properties. He adds, "Whether you intend to use the property or you are an investor looking for a property with tremendous income producing potential, this opportunity should not be missed."

To access and register for this auction simply visit www.tranzon.com/7724, or contact TRANZON, IPG at 888.243.3431.

About Tranzon Integrated Property Group

Tranzon, Integrated Property Group based in the New York is a full-service auction and real estate disposition company and a member Company of Tranzon, LLC.