Fairfield County Business Journal - April 12, 2004
Consumer products giant Unilever, as part of its expansion plans in Trumbull, has decided the company might be better off leasing a building it has owned since it was built in the mid-1960s. A deed filed with the town of Trumbull shows that Unilever subsidiary Conopco Inc. sold the 100,000-square-foot structure at 20 and 40 Merritt blvd. to WH-Conn L.L.C. for $21.5 million on Feb. 24. The buyer is a subsidiary of Whiting-Turner Contracting Co. of Baltimore - the company currently constructing the $20 million, 80,000-square-foot expansion to the building Unilever announced in October.
Unilever Home and Personal Care U.S.A. is consolidating units from Greenwich and New Jersey in an expanded five-building campus, adding 600 new jobs and bringing its total employment in Trumbull to about 1,500 people.
The $21.5 million price tag Whiting-Turner paid represents a premium price, real estate brokers said. With the planed expansion, the building would total 180,000 square feet, putting the cost at $119 per square foot.
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