The site of the former Pepperidge Farm factory in Norwalk has sold for $11 million – significantly below its appraised value, according to city records. New York-based developer TVG Partners, doing business as 595 Westport LLC, bought the 6.53-acre property, which includes a 118,100-square-foot, three-story factory building, for $11 million from Pepperidge Farm Inc., according […]
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The site of the former Pepperidge Farm factory in Norwalk has sold for $11 million – significantly below its appraised value, according to city records.
New York-based developer TVG Partners, doing business as 595 Westport LLC, bought the 6.53-acre property, which includes a 118,100-square-foot, three-story factory building, for $11 million from Pepperidge Farm Inc., according to land records.
The property, which has several other buildings and 411 parking spaces, was appraised at $20.4 million and assessed at $14.3 million in 2023, property records show.
TVG Partners in late May received city approval to turn the factory into a three-story self-storage building, while keeping the existing office space.
TVG Partners has been under contract to buy the property from Pepperidge Farm Inc., which was acquired by The Campbell's Company in 1961. Campbell's closed the office in 2023 and consolidated operations to Camden, New Jersey. Pepperidge Farm still has a production facility in Bloomfield.
We are pleased to have completed the transaction," Campbell's spokesman James Regan said. "It was a competitive process, and the final sale price was in line with the broker’s opinion of value."
Emails to TVG Partners were not immediately returned. 
