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                 Market News

Wallingford Corporate Complex Sells for $5 Million

Wallingford, CT -- The Bristol-Meyers Squibb corporate complex, at 5 Research Parkway in Wallingford, has been sold to a Massachusetts real estate investment company. The 915,000 sf complex is on 180 acres and includes 1,405 parking spaces, a state-of-the-art lecture hall, a fitness center, a full-service cafeteria, a child development center, a material handling facility, a heliport and a central utility plant that generates enough power for the entire complex. Bristol-Meyers Squibb entered into a sale lease back agreement with Calare Properties, LLC so they can keep some of their employees here through the end of the year. The pharmaceutical company has been at 5 Research Parkway for 31 years. They are in the process of relocating their employees to Massachusetts and New Jersey.   The new owner sees high potential for a variety of uses and potential redevelopment.  

To read the full article from New Haven Register click here
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