Radiall will occupy Building B at the complex, which is currently under construction and scheduled for completion by October of this year. Shelton Technology Center is located at Ivy Brook Road within The Shelton Corporate Park. The company will relocate from its 27,200 sf location at 260 Hathaway Dr., Stratford, CT.
CB Richard Ellis is also marketing Radiall's offices there for lease. CB Richard Ellis represented the developer of the Shelton Technology Center, Eman Corp. Inc. of Shelton. Colonial Realty represented Radiall, which is headquartered in a suburb of Paris, France.
Site work on all three phases of The Shelton Technology Center has already started. In fact, building "A," a 24,300 sf spec building, is under construction and Building "C," a 42,000 sf build-to-suit is being completed on behalf of Firing Circuits, Inc., which is based out of Norwalk. That property will be completed by October 2001.
Commenting on the deal, Shelton Mayor Mark Lauretti said, "It is welcoming news when a new company opts to come to Shelton. It is even more promising when there is new construction because it demonstrates the economic viability of the city as other communities are trying to fill vacant existing space. I am encouraged that Radiall recognizes the opportunities here in Shelton."
Sean Cahill, first vice president of CB Richard Ellis, related that the Shelton office market continues to be strong boasting a 5.2% vacancy rate at the end of the 4th quarter 2000. "We see continued growth in this sector of the market and are optimistic that Shelton's ability to attract new tenancy from lower Fairfield County will remain strong, especially in a declining economic cycle," he added.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
