The CEO of an electrical distribution company sold his waterfront home in North Palm Beach for $7.3 million.
Records show Pike Corp. sold the home at 12358 Ridge Road to Bel Canto LLC, a Delaware company.
Pike is owned by chairman, president and CEO J. Eric Pike. The Mount Airy, North Carolina-based company provides construction, engineering and repair services for distribution and transmission power lines and substations, according to its website.
Eric Pike bought the North Palm Beach property in 2017 for $6.1 million. In 2018, he transferred ownership of the property over to Pike Corp.
The 9,288-square-foot house sits on a 1.2-acre lot and was developed in 2009. The two-story home has five bedrooms, five-and-a-half bathrooms, a home theater and an infinity-edge pool, according to the listing.
Denice Sexton of Lost Tree Realty represented Pike while Peter Erdmann of the same brokerage represented the buyer, according to Redfin.com.
Also in North Palm Beach, the head of a New York construction management company paid $9.5 million for a waterfront mansion and an orthopedic spine surgeon sold his North Palm Beach home for $6 million.