Currently, Philips employs approximately 350 workers at the site, which features 135,000 sf of office space and 110,000 sf of high bay distribution space. Officials with C&W speculate that the property should appeal to telecommunications, financial services and back office users. They note that the complex could be used for corporate or divisional headquarters operations or for research and development functions or for distribution purposes.
"Tenants are attracted to Shelton due to the low cost of doing business, the affordability of homes in the region, and a less stressful commute for workers," says Kevin Foley of Cushman & Wakefield's Stamford office. "Therefore, there is a good demand for new product and large blocks of space like the one offered at the Philips site."
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