Developer buys site in Orange

ORANGE — A Branford-based developer has acquired a 4.17-acre vacant property on Carlson Road that once was home to Peak Electronics, a company that made computer circuit boards, before the business was dissolved in 2009.

Michael Massimino, a Branford developer, bought the 51 Carlson Road parcel for $825,000, according to town land records and Frank Hird, a broker with with OR&L Commercial, which also is in Branford.

OR&L represented the seller, FiftyOne LLC and now is representing Massimino, who is marketing the property, according to Hird.

The commercially zoned property is adjacent to a new Amazon warehouse and behind a Walgreens pharmacy at 54 Boston Post Road.

Hird said the price reflects a variety of factors, including a lack of frontage on Boston Post Road, the fact that the deal was done as a cash sale and the buyer acting quickly.

He said there already has been some interest in the property, and that Massimino is offering it as a build-tosuit property or a land-lease arrangement. The property is located directly adjacent to two Amazon warehouses and surrounded by many national retailers.

“Our client is open to any ideas,” Hird said. “We have fielded quite a few calls already. It’s a terrific time, a huge bonus, to have any parcel of commercial property that is located anywhere in southern Connecticut.”

Massimino was not immediately available for comment.

Orange First Selectman James Zeoli said the property at one time was the subject of an environmental cleanup, but added he was uncertain as to when the cleanup was completed.

Hird said the cleanup was completed last year, but that it took until earlier this year for state environmental officials to sign off on it.

Officials with the state Department of Energy and Environmental Protection began investigating pollution at the site in December 1998, but remediation wasn’t started under September 2015, according to DEEP documents.

Before Massimino bought the property, the land was owned by Fifty-One LLC. Information from the Secretary of the State’s Commercial Records Division shows the LLC is based in Oklahoma City.

Municipal real estate records have the property’s owner listed as National Loan Investors, a limited partnership-based at the same address as Fifty-One LLC.