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Several commercial properties in Greenwich sell for millions

October 18, 2017 GMT

Several tracts of Greenwich’s commercial real estate sold for several million dollars each last week, according to town property records.

Among them was a four-story, mixed-used Riverside property at 1075 E. Putnam Ave., which is partially occupied by the first location of Aux Delices. The catering and prepared-food business was launched in 1995 by local couple Debra Ponzek and Greg Addonizio, who bought the property where their business still resides and the adjoining one at 5 Riverside Lane for a combined $5.8 million.

“I believe in real estate long-term, and the 5 Riverside Lane property is one I’ve always wanted to get,” Addonizio said in an interview. “Buying them is a way to fix my rent. And with parking at such a premium, it was important to secure that for my business, my brand and even the community.”

Previously, the couple bought the Stamford property where some of Aux Delices’ business operations are located, he said, and it’s served as a good model for how to keep their rents at fixed rates.

Looking ahead at the future of a new tenant for 5 Riverside Lane property, Addonizio said he’s received interest from a variety of businesses including restaurants, high-end fitness studios and some design showrooms, though nothing has been decided. “We’ll see what happens there,” he said.

On the other side of town, another pair of next-door properties at 300 W. Putnam Ave. and 15 Oak Ridge St. sold for $3.6 million and $1.2 million respectively.

The vacant structure on the West Putnam property was built in 1949 and includes more than 3,300 square feet of retail space, according to town property records. Though a home still stands on the adjacent Oak Ridge St. property, it’s been converted for use as a parking zone for the West Putnam building, according to Tom Torelli of Allied Property Management.

The same buyer, Rockhill Real Estate VII LP, was recorded for both properties but could not be reached for comment

mbennett@greenwichtime.com; Twitter @Macaela_