Derby Cellular Products has a new owner, according to a press release from a commercial real estate broker.
The sale price was not immediately disclosed.
Alan Fischer, of Fischer Real Estate in Orange, announced the transaction today (June 1).
The buyer is TD Development, LLC, described as an investment group from Ohio.
Derby Cellular Products is at 150 Roosevelt Drive in Derby, across from the Dew Drop Inn and Apollo Pizza.
It’s a 150,000 square-foot, two-story industrial building on two acres on the shores of the Housatonic River.
“The buyer plans to demolish a portion of the building, completely renovate the rest and then re-introduce the property to the market on a for lease or for sale basis,” Fischer said in a press release.
The property will continue as an industrial use.
Fischer represented the buyer and the seller.
In his prepared statement, Fischer thanked Rick Dunne, the executive director of the Naugatuck Valley Council of Governments, for providing funding to have environmental testing done at the property.
“With those reports in hand, the buyer was willing to assume complete responsibility for the environmental cleanup of the site, which was a key element to closing this all-cash transaction,” Fischer said.
Derby Cellular Products announced its closing in 2009. About 100 Derby manufacturing jobs were eliminated, according to the Hartford Courant.