A New York-based moving company is taking Pitney Bowes Inc.’s former distribution facility in Newtown following the property’s sale and subsequent lease.
Clancy Moving Systems Inc., a 90-year-old moving and storage company with a location in Stamford, is leasing the facility, saying it will help the company expand its customer base.
An entity called CB Brookfield purchased the 155,000-square-foot building at 7 Edmond Rd. for $4.8 million, or $31 a square foot. Tower Realty Corp. represented CB Brookfield, with Cushman & Wakefield handling negotiations on behalf of the seller Pateley Associates.
The property totals nearly 18 acres at exit 10 off Interstate 84.
Clancy did not immediately state how many people it expects to employ at the facility, which will operate as a moving and storage warehouse. The company is based in Patterson, N.Y.
“The property was well received by the market, with interest from several different buyers,” said Frank Brown, a senior director with Cushman & Wakefield, in a written statement. “We priced 7 Edmond Road to be an excellent value for a potential buyer and, indeed, it was sold within six months.”
This page is available to subscribers. Click here to sign in or get access.