SMITH FIRM SELLS TO CVS - $3 MILLION PROJECT

DeForest W. Smith, CCIM, SIOR, president of George J. Smith & Son Commercial & Investment Real Estate is pleased to announce that his firm has sold a 3.1 acre parcel on Route 44, Putnam to CVS.  The seller was an investment group the Smith firm established to purchase a 13 acre parcel.  The group was fortunate enough to sell a portion of the property and double its initial investment.  In this environment, the investors were pleased with their return.

Construction is expected to commence within the next 30 days and be completed in the fall of 2009.  The final project will be in excess of $3 million.  The cooperating agent was Bob Pagani of Dow & Condon Colliers.

DeForest W. Smith is the third-generation owner of his family's real estate firm, which was established by his grandfather in 1886.  He joined the firm after graduating from Yale University with a degree in International Economics.