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Old Saybrook Industrial Property Sells

June 18, 2021 | Reprints | Unlock Link | Print

Photo courtesy of Pearce Commercial Real Estate

A multitenant industrial property in Old Saybrook has sold to an investor group for $641,000.

The building at 167 Elm St./65 Research Parkway was the site of the former Pye Hogan Manufacturing Co. It is currently being utilized as a multitenant facility, managed by the seller Fernwood Realty.

The 31,000-square-foot property has a mix of 11- and 12-foot ceilings, with one portion of the structure built in 1970 and another, larger portion added in 1989, according to public record.

Richard Lombardo Pearce Real Estate’s Milford commercial office represented the seller and procured five tenants for the facility. Norm Peck of Pequot Commercial represented the buyer, an investor group using an LLC with a Groton address.