Procter & Gamble Announces Stamford Connecticut Property is For Sale
19 May, 2008, Stamford, CT
The Procter & Gamble Company (P&G) (NYSE:PG) today announced the buildings and property of One Blachley Road in Stamford are available for purchase. The property is represented by the commercial real estate services firm, Cushman & Wakefield.
The property includes a 32.68 acre manufacturing plant and two-story office building containing 672,654 square feet. Additionally, there are two single-family residences situated on 0.21 and 0.22 acres on the approach to the site which were purchased by Procter & Gamble to preserve, control and maintain easy access to the site from the main road. The property is located in close proximity to downtown Stamford and offers easy access to I-95.
The site allows for mixed-use development of residential, retail and a variety of other ancillary uses including medical, government, industrial and flex space. Procter & Gamble plans to complete the transition of current employees and manufacturing activities by the end of March, 2010.
According to Patrice Louvet, Vice President and General Manager of P&G Global Retail Hair Color, “Clairol has enjoyed its tenure in Stamford. Now with the sale of this property we are committed to bringing a positive influence to the future of Stamford as a vital community.”
Cushman & Wakefield’s Trip Hoffman, senior director, Jim Fagan, senior managing director and Betcy Vincent, Associate, are handling the marketing of the property and the procurement of the purchaser.
“Property of this size and prime location is extremely rare in lower Fairfield County,” Trip Hoffman explained. “The property allows for a variety of uses and will offer a savvy developer the opportunity to be creative. Procter & Gamble will entertain all offers, including sales structure variations like sale leasebacks or installment sales, but has stressed its interest in finding a good partner and community neighbor.”
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Contact: Alison Miller