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January 28, 2021 What’s The Deal?

Industrial property sells for $1.3M in Milford

PHOTO | CONTRIBUTED 551 Anderson Ave., Milford
By Michelle Tuccitto Sullo

Cartwheels and somersaults will soon be replaced by marble and tile in a Milford-based industrial property.

A building that had long been the home of Cartwheels Etc., a gymnastics and fitness business at 551 Anderson Ave., sold in January for $1.3 million.

The city’s planning and zoning office indicated it has received an inquiry about putting a marble and tile business at the site, but hadn’t received a permit application as of mid-January.

Tony Vitti, a Realtor with Colonial Properties in Milford, represented the seller, Sairem Simhadri.

The original asking price had been $1.45 million, but the site ultimately sold for $150,000 less. Simhadri purchased it a decade ago for $875,000, city records show.

The 14,500-square-foot light industrial building is on a 2-acre parcel with about 50 parking spaces.

Vitti said the seller secured multiple offers for the building within four days after listing it, and it was under contract within a week.

According to Vitti, there is significant demand in the region for industrial properties.

“Folks are looking for warehouses and buildings with high ceilings and loading doors,” Vitti said. “I think this building checked all the boxes for the buyer.”

M. Khalil Realty LLC of Trumbull bought the property, city records show. It was incorporated in October and lists Fahmy Khalil of Trumbull as its principal.

David S. Gorbach, president of Colonial Realty, represented the buyer.

Gorbach said his client’s business, Jerusalem Heights, deals in high-end marble and tile, typically used in bathrooms and kitchens.

His client had been searching for a warehouse space for about two-and-a-half years, according to Gorbach.

“This building was the right size and appealed because of its proximity to I-95,” Gorbach said. “There has been an acute shortage of nice warehouse buildings for sale in the area.”

Monica Millspaugh, the longtime owner of Cartwheels Etc., attributed her business’ closure to the impact of COVID-19.

Under the restrictions initially imposed by Gov. Ned Lamont, her business, like many other fitness-oriented ventures, had to temporarily close in the spring of 2020.

It reopened in June, but Millspaugh said enrollment dropped considerably, which made it impossible to afford the rent. The business closed permanently in September.

A second business at the site, Turn 2 Baseball & Softball Academy, is still there and plans to continue leasing space from the new owner.

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