O'Hara of CB Commercial NRT and Pulie of USI complete $7.1 million land sale

Christopher O'Hara, senior vice president of Coldwell Banker Commercial NRT Inc., and Tom Pulie of USI represented Hubbell Inc. in the sale of 372 acres. The site is located between Wheelers Farm Rd., Derby Milford Rd. and Merritt Pkwy. and is the largest land sale in the state of Conn. in the past two years, and the largest privately owned parcel within the town of Orange. The sale of this site is a good result for Hubbell as well as the Town of Orange. Hubbell sold the land to the town for $7.1 million, a discount of over $2 million off its appraised value of $9.2 million. Hubbell also presented a $50,000 check to the town. The contribution will be used by the town to help pay for the cost of creating a new entry and parking for the property. The adjacent Hubbell headquarters complex is available for sale. The 70,000 s/f Class A building rests in a campus setting on 46 acres of land, has 3,000 ft. of frontage on the Merritt/Wilbur Cross Pkwy. (Rte.15) with access via Exits 55 or 56. It includes a parking garage, a fitness facility with steam room, sauna and showers; a cafeteria with full service kitchen, and an executive wing including fireplace. The site has expansion capability of over 50,000 s/f. Zoning regulations would include conversion to medical, hospice and elderly care.