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GE takes 15-year lease BLT deal

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Jan-13-08, 07:00 PM
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GE Energy Financial Services has taken a 15-year lease on Xerox Corp.’s former Stamford headquarters, selling its current facility in Stamford to Building & Land Technology (BLT) Inc.


The deal was first reported by GlobeSt.com and later confirmed by a BLT press release.



For $55 million last year, Xerox sold its former headquarters at 800 Long Ridge Road to Norwalk-based BLT, subsequently subleasing space in a BLT-owned building in Norwalk from Hewitt Associates.

 

BLT has now purchased GE Energy Financial Services’ (GE EFS) property at 120 Long Ridge Road in Stamford, which features a 300,000-square-foot building and 60 acres of grounds. The companies did not disclose financial terms of the deal.

 

BLT also owns adjoining properties at 260 and 292 Long Ridge Road.

 

A subsidiary of Fairfield-based General Electric Co., GE EFS invests in a range of energy and power projects, such as a deal announced in early January to support the construction of what it says will be the largest single-roof solar power installation in the United States, at a Toyota Motor Sales USA Inc. parts center in California.

 

GE Financial Services will relocate 290 employees to its new Stamford building, according to Alex Urquhart, CEO of the division.


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