A group of investors has purchased a Bethel shopping center for $3.2 million, according to town property records.
A group of investors has purchased a Bethel shopping center for $3.2 million, according to town property records.
66 Stony Hill LLC acquired the 25,556-square-foot Mountain Laurel Plaza at 66-68 Stony Hill Road.
The limited liability company is controlled by Danbury residents MaryJean Rebeiro and Ross J. Rizzo, and Bethel resident Anthony M. Rizzo Jr. Rebeiro and Ross J. Rizzo are principals of Bethel-based electrical contracting company NY-CONN Corp. Anthony M. Rizzo Jr. is CEO of Danbury-based Rizzo Cos., which owns real estate development firms Rizzo Corp. and JAR Associates, along with Rizzo Electrical Contractors.
Rizzo said they plan on upgrading the property by repaving and expanding the parking lot and installing new lighting and signage, while trying to keep the same tenants, Rizzo said.
"We're going to give the property a facelift and make it more modern," he said.
He said he hopes that the upgrades can start this summer.
The seller was Danbury-based Mountain Laurel Plaza Inc., controlled by Charlene Dannin of Brookfield.
The fully leased shopping center was built in 1974 and sits on 3.31 acres. It is appraised at $3.19 million and assessed at $2.24 million.
Tenants include three restaurants, a bank, laundromat, shoe repair shop, hair salon, nail salon, smoke shop and an optometrist, according to their websites.
