Bank building sells in Madison for $3M

JP Morgan Chase Bank has purchased property at 634 Boston Post Road in Madison for a new bank branch.

The deal, which closed for $3.1 million, includes a 6,241-square-foot bank building on approximately half an acre.

The 3-story building is located in downtown Madison. However, the buyer plans to demolish the existing building and replace it with a new Chase Bank, according to an announcement. The location was previously a Guilford Savings Bank branch.

Frank Hird and Phil Marshall of O,R&L Commercial in Branford represented the seller, Davis Realty LLC, while Tim McNamara and Brian Knowles of Sullivan Hayes in Farmington represented the buyer. 

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CBD retailer leases Old Saybrook site

709 Boston Post Rd., Old Saybrook 

A new retail store dedicated to cannabis-related products is coming to Old Saybrook.

Michael Milardo has leased 1,300 square feet at 709 Boston Post Rd., for the new store, which will sell a range of cannabidiol, or CBD, related products.

The space is located in the Elm Street Center, which is a retail strip plaza and a free-standing Webster Bank branch. 

Kristin Geenty and Kevin Geenty of The Geenty Group, Realtors were the sole agents in this transaction.

The landlords are John and Judith Cacase and The Joan A. Van Epps Trust.