The borough of Naugatuck has purchased for $1.1 million the former Bank of America building at 275 Church St.
Naugatuck Mayor N. Warren “Pete” Hess said the use of the newly acquired property will be determined by the Board of Mayor and Burgesses at its next meeting on Oct. 4. The property will likely be used for a a variety of community events, he said.
Hess said that purchasing the property, which includes parking in downtown Naugatuck, allows the borough to “determine the destiny” of the site rather than leave it up to the open market.
A Southport-based investment trust, Trio Fund I CT Portfolio, has purchased a package of six former Agway stores for $10.5 million.
The pet and garden retail stores, which operate under the name Smithland Supply, are in Manchester, Southington, Bethel, North Haven, Middlefield and North Branford.
The previous owners decided to sell the business over the last two years. The sellers Retail Property One LLC, Retail Property Two LLC, Retail Property Three LLC and Retail Property Four LLC are controlled by John and Terry Bergantino of Guilford.