X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SHELTON, CT-Philips Medical Systems, which will be relocating its North American headquarters to Seattle next summer, has hired Cushman & Wakefield as its exclusive leasing agent for its complex here. The 250,000-sf property at 710 Bridgeport Ave. is available on the sublease market.

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.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.