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SAUGERTIES, NY-A 200,000-sf manufacturing facility on 33 acres has been sold to Newco, a holding company for Pace Candle. The property is located at 1033 Kings Highway in Saugerties. A spokesman for Binswanger/CBB, which negotiated the sale for Philips Electronics North America, reports the sale price was $2 million.

The buyer, candle manufacturer Pace Candle, is a division of Seagram Company Ltd. Headquartered in New York City, Pace Candle relocated from its Jacksonville, Florida plant.

Philips Electronics North America is a subsidiary of Royal Philips Electronics of The Netherlands. The firm oversees seven product divisions operating in the US, Canada and Mexico. The company has more than 226,000 employees worldwide.

Headquartered in Philadelphia, Binswanger is a member of Chesterton Blumenauer Binswanger, an international, full-service real estate organization with more than 160 offices worldwide.

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