Rocky Hill, CT According to Barbara Pearce, CEO and president of Pearce Real Estate, DeForest Smith of the Milford Pearce Real Estate office has sold the property at 323 Cromwell Ave. for $5.5 million.

The property is a 15,000 s/f CVS Pharmacy building. The seller is Broad Street III, a limited liability company. The buyer is Jordan Realty, also a limited liability company. Smith represented both the buyer and seller in this transaction. This sale represents an IRS Section 1031 Tax Deferred Exchange for the buyer, coordinated 100% by Smith.