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NORWALK, CT-Vectron Inc. has sold its 166 Glover Ave. building to locally based commercial office property owner Building and Land Technology for approximately $7 million. The 60,000-sf building is being completely renovated and upgraded by the new owner.

Extensive renovation work has already started and includes new exterior windows, a new lobby area with a glass entrance canopy, new restrooms, improved mechanical and electrical systems, all new interior space and new landscaping, company officials say. Other planned upgrades include a new facade and parking lot improvements.

Building and Land Technology president and CEO Carl Kuehner notes his company “will be delivering new class A office space which would be well-suited to a company looking to have its own identity.” He adds, however, that the building will be designed for multi-tenant use.

Kuehner says of its latest acquisition, “It is the right property for this time in the marketplace.”

Demand for office space in the area is strong with many area companies studying the tight Norwalk market for expansion or relocation. The building is located in the 2.8-million-sf Merritt 7 office submarket, which is virtually fully leased.

The property abuts the corporate headquarters of Tyco Healthcare/US Surgical and is just north of Building and Land Technology’s 1.1-million-sf Towers corporate campus. The Towers consists of four class A office buildings. The first building at the Towers is leased in its entirety to the North American headquarters of Diageo North America. The second building is fully leased to the regional headquarters of Hewitt Associates. Major tenants at the third building at 901 Main Ave. include the headquarters of GE Commercial Finance and the respective headquarters of IMS Health and Building and Land Technology.

Vectron Inc. is a designer and manufacturer of frequency controls and sensor and hybrid product solutions. The Munich-based firm was represented by Coldwell Banker NRT. Building and Land Technology handled the property acquisition in-house. The firm also plans to handle leasing responsibilities for the property in-house as well.

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