Lyman Real Estate sells 96,000 s/f in Norwich Business Park for $6.8 million

Norwich, CT Ron Lyman, CCIM, CEO of Lyman Real Estate Brokerage & Development, brokered the sale of the 96,000 s/f building at 5 Wisconsin Ave., in the Norwich Business Park, for $6.8 million.

Lyman represented seller Jack Feinberg, whose Nutron Manufacturing company was based on the property through 2018. Since then, S&S Worldwide has leased the entire space as a warehouse.

The buyer is 5 Wisconsin Owner LP, an investor group including lead Brian Ker, Milan Parekh, Mark Landau, and Brasswater of Montreal. The new owners have taken over the lease to S&S, a 115-year-old company based in Colchester, which sells supplies for arts and crafts, sports, educational, and recreational activities.

Nutron bought the building in 1998 to house its expanding commercial and industrial lighting business. Before that, 5 Wisconsin Ave. was the original head-quarters for Cuisinart, the appliance brand founded in 1971 by Carl Sontheimer, the American inventor and engineer best known for creating the original electric food processor for home kitchens.

Lyman was also the broker on the 1998 deal, representing Jack Feinberg’s father, Joseph Feinberg. Prior to Cuisinart, the location housed the Central Shoe Manufacturing Co. Over the years, the facility has been substantially expanded and updated.