Procter & Gamble Announces Stamford, Connecticut Property Is For Sale

The property includes a 32.68 acre manufacturing plant and two-story office building containing 672,654 square feet. Additionally, there are two single-family residences situated on 0.21 and 0.22 acres on the approach to the site which were purchased by Procter & Gamble to preserve, control and maintain easy access to the site from the main road. The property is located in close proximity to downtownStamford and offers easy access to I-95.

The site allows for mixed-use development of residential, retail and a variety of other ancillary uses including medical, government, industrial and flex space. Procter & Gamble plans to complete the transition of current employees and manufacturing activities by the end of March, 2010.

According to Patrice Louvet, Vice President and General Manager of P&G Global Retail Hair Color, "Clairol has enjoyed its tenure inStamford. Now with the sale of this property we are committed to bringing a positive influence to the future ofStamford as a vital community."

Cushman & Wakefield's Trip Hoffman, senior director, Jim Fagan, senior managing director and Betcy Vincent, associate, are handling the marketing of the property and the procurement of the purchaser.

"Property of this size and prime location is extremely rare in lower Fairfield County," Trip Hoffman explained. "The property allows for a variety of uses and will offer a savvy developer the opportunity to be creative. Procter & Gamble will entertain all offers, including sales structure variations like sale leasebacks or installment sales, but has stressed its interest in finding a good partner and community neighbor."

About P&G

P&G Beauty products help make beauty dreams real and grooming enjoyable everyday for millions of women and men worldwide. With more than 100 brands available in nearly 130 countries, P&G Beauty delivered sales of more than $22 billion in fiscal year 2006/07, making it a leading global beauty company. P&G Beauty offers trusted brands with leading technology to meet the full complement of beauty and grooming needs, including Pantene(R), Olay(R), Head and Shoulders(R), Max Factor(R), Cover Girl(R), DDF(R), Sassoon Professional(R), Wellaflex(R), Rejoice(R), Sebastian Professional(R), Herbal Essences(R), Koleston(R), Clairol Professional(R), Nice 'n Easy(R), Braun(R), Venus(R), Gillette(R), SK-II(R), Wella Professionals(R), Christina Aguilera fragrance, Escada(R), Hugo(R), Boss(R) and Lacoste(R) fragrances. Please visit http://www.pg.com for the latest news and in-depth information about P&G (NYSE: PG) and its brands.

SOURCE The Procter & Gamble Company

Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze, Daily News

Tags: ,HOU,REA,RLE,CT-P&, G-property4sale