Bristol-Myers Squibb Wallingford property purchased by private Massachusetts firm

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WALLINGFORD, Conn. (WTNH) — A private Massachusetts-based firm announced Wednesday that it purchased the Bristol-Myers Squibb property in Wallingford.

Calare Properties announced on their website Wednesday Feb. 14th that they acquired the 915,0000 square foot office and lab complex at 5 Research Parkway in Wallingford. The office and lab complex is home to Bristol-Myers Squibb, a bio-pharmaceutical company.Related content: New Zoning Regulations Potentially Causing Turmoil for Bristol-Myers Squibb

The real estate operator said it “sees exciting potential for both office and pharmaceutical/biotech tenants.” The company also noted in their release about the possibility of many new development opportunities, including industrial.

“5 Research Parkway provides an unparalleled opportunity for companies in the pharmaceutical, biotech, manufacturing, healthcare and service industries seeking a facility in the Southern Connecticut region,” said Bill Manley CEO of Calare Properties. “The extensive acreage and unique physical layout of the campus can accommodate a multitude of uses in addition to potential re-development to meet the needs of future tenants.”Related content: Drug maker to leave Connecticut, cut hundreds of jobs

On Jan. 8th of this year, the company also acquired a warehouse distribution facility at 33 Stiles Lane in North Haven.

At this time the company has not released how much they purchased the property for.

Bristol-Myers Squibb officials have not released a statement on this purchase.

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