Newtown has succeeded in its quest to fill the former Hubbell facility at 14 Prospect Drive, as Kimball Midwest, a national industrial supplier based in Columbus, Ohio, has agreed to open a distribution center there.
The 142,000-square-foot building, located on 41 acres, will serve as Kimball Midwest”™s fifth distribution center.
As previously reported, Kimball Midwest had already acquired the property for $4.4 million and said it would invest as much as $2 million more on improvements. However, it had not committed to utilizing the property as a distribution center until Newtown came through with some added incentives, including an annual tax abatement of approximately 30%, or $5,500 per year over three years.
“We look forward to opening our first distribution center in the northeast,” Kimball Midwest President and CEO Pat McCurdy said. “This site will position the best sales team in the industry to provide next-day delivery to our current east coast customers and will bring the Kimball Midwest Experience to even more customers around the region. Additionally, we will bring jobs to the Newtown area upon opening.”
According to earlier reports, those jobs will total about 30.
Bruce Wettenstein, partner with Vidal/Wettenstein, represented Kimball Midwest. Lou Zuckerman and Patrick Colwell of CBRE were the listing brokers.
