Old Saybrook, CT The commercial property known as the Sovereign Electric Building at 175-2 Elm St., was sold to the owners of Pathway Lighting Products, Inc., headquartered across the street.
The deal was announced by Ron Lyman, CCIM, CEO of Lyman Real Estate, which listed the property and whose broker Peter Walsh represented the seller in the transaction. The building contains almost 21,000 s/f, sits on approximately 4.6 acres, and sold for its $1.4 million listing price. Bob Cancelmo of BHHS New England Properties was broker for the buyer.
In another transaction, Lyman Real Estate completed the sale of 21 acres at 2 Mucko Rd., at the corner of Woodland Ave., in Bloomfield. The purchase price was $850,000. The property was acquired by Deringer-Ney, Inc., a company that develops precious metal alloys and precision components for the medical device, automotive, semiconductor, aerospace, and appliance industries. Lyman Real Estate acted as the brokerage firm for sellers Elizabeth Fernandez and Marie Mercaldi.