Commercial Real Estate News
Moore Tool’s Bridgeport Facility For Sale
BRIDGEPORT, CT – February 1, 2010 – Jon Angel, President of Angel Commercial L.L.C. in Fairfield, CT announced today that the factory owned by the Moore Tool Company, located at 785 and 800 Union Avenue in Bridgeport, CT is now available for sale at $5.5 million. “The Moore Tool Company has occupied the property since its inception in 1924,” explains Angel, the commercial real estate broker with the exclusive property listing. ”With over 244,000 square feet on over 6 acres of land, the property offers abundant manufacturing space and modern offices.” Last year, Moore Tool completed the renovation of their new tool room which included new windows, air-conditioning and refinishing the original hardwood floors.
Designed to craft precision tool instruments for national laboratories and major corporations, the facility is equipped to move heavy equipment, up to 30 tons, and features high ceilings, compressed air, and temperature controlled rooms. “The inherent nature of their business, which requires unique facility customizations, has resulted in abundant unused space,” states Angel. “A temperature controlled room held to +/- .5 degrees Fahrenheit was built specifically to design a multi-axis machining cell that was used by Los Alamos National Laboratory, in Los Alamos, N.M. This room has gone unused since the project was completed in 1995.”
“With 75 employees, we are only utilizing a quarter of the space,” explains Newman Marsillius IV, vice president of Moore Tool. “We are hoping for a sale with a lease back deal so we can stay in our facility in Bridgeport.”