Staypoint Properties has purchased the former Crystal Rock bottling and distribution plant in Watertown for $5.2 million.
Active Hartford-based real estate investment firm Staypoint Properties has purchased the former Crystal Rock bottling and distribution plant in Watertown for $5.2 million.
In a sale recorded Oct. 21. Staypoint acquired the 52,241-square-foot industrial building on 10.3 acres at 1050 Buckingham St. from the Baker Grandchildren’s Trust, an entity tied to the family that founded Crystal Rock.
The century-old water company, launched by the Baker family, was sold to Canada-based Cott Corp. in a $35 million deal announced in 2018. Cott later rebranded to Primo Water Corp.
In November 2023, Primo announced the completion of a merger between Primo Water and Stamford-based BlueTriton Brands subsidiary Triton Water Immediate Inc. The combined publicly traded company oversees brands such as Poland Spring, Pure Life, Primo Water and Deer Park.
The Watertown property was marketed with an asking price of $6.5 million. Staypoint Founder Joseph Sullo said he got a “good deal” because Primo Brands’ lease expires next September. He expressed confidence, however, that the company will renew.
“It’s a public company and, I think it’s a real solid investment,” Sullo said. “I got a good deal because there is a short term left on the lease, but I have a good feeling. A water company is like a utility. It’s a necessity.”
The building, constructed in 1987, includes water tanks and specialized infrastructure that Sullo said would appeal to any water company if Primo does not extend its lease.
Lucas Severo and Jeff Kravet of Stamford-based Kravet Realty marketed the property and represented the seller.
Kravet said an earlier deal collapsed after Primo indicated plans to vacate the Watertown site but noted the company has since decided to continue operations there.
Kravet Realty also
handled the sale of another former Crystal Rock property in Stamford earlier this year. That 22,813-square-foot warehouse, also owned by the Baker family, sold for $3.5 million. The buyer, an executive with a New Jersey-based architectural glass manufacturer, said at the time he intended to renew a five-year lease with the water company.
