Oct. 01--NORWALK -- The former headquarters of U.S. Surgical at 150 Glover Ave. has been purchased by an affiliate of Building & Land Technology for $7.9 million, and a nearby property has been purchased by the company for $5.9 million, according to records at the Town Clerk's office at Norwalk City Hall.
BLT, which is currently the lead developer in the resurgent South End of Stamford, has other commercial properties on Glover Avenue, including the headquarters for companies such as Diageo, Xerox and Hewitt-Aon. According to a BLT release, the company will "invest significant capital" to revitalize the property at 150 Glover Ave.
According to records in the Town Clerk's office, the city will receive $39,556 in conveyance taxes from the sale of 150 Glover Ave. The state will receive $98,890 in taxes. The city also will receive $29,500.25 in conveyance taxes for the sale of 170 and 174 Glover Ave. The state will receive $73,750.63 from that sale.
Tad Diesel, Norwalk's director of marketing and business development, welcomed the news of BLT's purchases.
"Great news," he said. "Building and Land Technology has long been a driver of Norwalk's commercial real estate marketplace. The U.S. Surgical building fits seamlessly into BLT's properties in the corridor and I am certain will benefit both the company and the city of Norwalk."
BLT affiliate, 150 Glover Ave. LLC, purchased the building from Baltimore-based commercial real estate firm Townsend Capital. The building is one of the few in Norwalk with a landing pad for a helicopter. The 236,000-square- foot building consists of two separate medical office buildings and was built in 1978. BLT said part of its capital investments will "replace base building systems and providing for a new sense of entry to the facility," according to the release.
"By adding to our existing Glover Avenue holdings, the acquisition of this property will allow for a comprehensive redevelopment of the properties at the north end of Glover Avenue," Carl R. Kuehner, CEO of BLT, said in a release.
BLT officials did not comment on several questions from The Hour.
U.S. Surgical had been rebranded as Covidien before it moved to New Haven County in 2011. It had employed about 300 people in Norwalk at the time.
BLT purchased and renovated the building at 166 Glover Ave., the former headquarters of Vectron, in 2006. It also built the Towers at Merritt River (801 Main Avenue, 901 Main Avenue and 45 Glover Avenue), a three-building commercial office complex home to companies such as Xerox, Diageo and General Electric.
It is currently developing Harbor Point in Stamford. When completed it will include more than 4,000 residential units and millions of square feet of commercial office space.
BLT had its headquarters at 901 Main Avenue before moving to Stamford's South End.