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420 Acres Owned by Tyco Int'l Sell for $4.5M

GLEN ALLEN, VA-The disposition of the 1,250-acre parcel belonging to Tyco International is now complete with Sauer Properties Inc.'s $4.5-million acquisition of the final 420-acre tract. Sauer plans commercial development on the property when the market becomes more favorable.

By Barbra Murray | Updated on April 09, 2002

GLEN ALLEN, VA-In a $4.5-million deal, an undeveloped 420-acre parcel of land near Virginia Center Commons has been sold to Richmond, VA’s Sauer Properties Inc, a real estate arm of food manufacturer C.F. Sauer Co. Sauer plans to develop a class A office park to include retail space once the market improves.

Sauer acquired the Henrico County property from Tyco International, which came into possession of the land when it took over Scott Technologies, formerly known as Figgie International, last year. Even before Tyco purchased Scott, Scott officials had been disposing of the company’s large stable of real estate holdings for several years.

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