COMMERCIAL BUILDING SOLD FOR $1,750,000

Jul, 2007

U.S. Properties, Inc. sells Commercial Building in Norwich

NORWICH, CT - Susan Howard and Jim White of U.S. Properties, Inc. sold the Thames Plaza office building located at 101 Water Street in Norwich for $1,750,000. This property was owned by the Mashantucket Pequot Tribal Nation.

Built in 1986 on 0.73 acres, the property comprises a 34,440 s/f office building. Currently, the tenants located in the building are Social Security Administration, Rise Engineering, Costa & Clark, New England Merchants, and Attorney Dennis Ferdon. AT&T Wireless has a system of radio antennas located on the building's roof.

The buyer, Water Street Investments, LLC of West Hartford, and the seller, Mashantucket Pequot Tribal Nation, were represented by Susan Howard and Jim White. The buyer intends to upgrade the property for retail and office use.

The seller was represented in this transaction by Attorney Karl Sternlof from Brown Jacobson of Norwich. Attorney Narcy Dubicki of Dubicki, Camassar & Simonson, LLP of New London represented the buyer.

Financing for the buyer was provided by the Mashantucket Pequot Tribal Nation. Attorney Wade T. Blackmon from the Mashantucket's Office of Legal Counsel provided legal counsel for the Tribe.

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