Kubtec will convert the first two floors of 75 Merritt Blvd. to house a production line, assembly and quality control.
Kubtec, a manufacturer of imaging equipment for hospitals and universities, has closed on the $3.7 million purchase of a building in the Trumbull Corporate Park where it’s relocating its operations.
Kubtec will convert the first two floors of 75 Merritt Blvd. to house a production line, assembly and quality control. It will move some 44 staff from its current location in Stratford.
The building is 112,544 square feet and situated on 5 acres.
The company has been offered a 20-year tax abatement by the City of Trumbull to move its operations. The property will have a fixed tax rate for the first 10 years under the agreement, and then receive a discount on any incremental increases for the remainder of the period.
Trumbull’s Economic Development Director Rina Bakalar told the town during negotiations over the abatement that the property has remained largely vacant since Unilever left it in 2014, and was in foreclosure. She believes the deal will stabilize the tax base and remediate a declining asset.
"We're very excited to have them moving to Trumbull," Bakalar told the Hartford Business Journal. "Not only are they turning around a property that needs investment, they're bringing these high-wage, technology R&D jobs to Trumbull."
The company has also told the town it intends to add 30 jobs in coming years.
The property had been under receivership with Sachem Bank of Milford, represented in the sale by Alan Fischer of Fischer Commercial.
Bruce Wettenstein, managing partner with Vidal/Wettenstein represented the buyer, Merritt 245, LLC.
