Investment group EldCo purchases South Norwalk retail/office property for $1.157 million

EldCo LLC has purchased the 7,500-square-foot retail and office property at 23-29 South Main St. in South Norwalk for $1.157 million from Mainstream Development.

The latter had purchased the property in 1996 for its marketing business; upon the retirement of Mainstream partners Ralph Miolla and Paul Port, Darien-based real estate firm NAI Signature Group was enlisted to manage the property and ready it for sale.

This is the first Fairfield County investment property for construction machinery firm EldCo, based in Iron River, Wis.  The new owners plan to make capital improvements to the building, including exterior painting, that will reduce maintenance costs and add further value to its investment.