Monroe, CT — It was announced today that the former Vishay Vitramon property, located at 10-36 Main Street in Monroe, was sold to 10 Main Street, LLC, a subsidiary of the Kimball Group, based out of Monroe, Connecticut. The ±15 acre parcel had once held an 84,000 square foot multi-level industrial building, which was demolished due to its economically inefficient design. The property had been home to the Vishay Vitramon Company since the 60’s.
Vishay Vitramon, part of Vishay since 1994, produces surface-mount multilayer ceramic capacitors required by industrial, automotive, medical, and military applications.
The former Vishay property will make a welcomed addition to Victoria Place, a multi-use development the Kimball Group has been working on which includes the North American headquarters of Swiss Army Brands. Victoria Place will house retail and restaurant uses, and is anticipated to be a true destination in the Monroe/Trumbull marketplace.
According to John Kimball, President of KG, “The integration of 10 Main Street into Victoria Place provides the critical mass necessary for a successful retail destination, with improved traffic flow through the corridor by completing the necessary roadway widening and the donation of right of way to the State of Connecticut.”
Bruce Wettenstein, SIOR and Partner with Vidal/Wettenstein was the listing broker and represented the purchaser. Counsel for the seller was Vishay’s in house counsel, David L. Pieterse. Mark Kirsch of Cohen & Wolf, Bridgeport, Connecticut was counsel for the purchaser. Solli Engineering provided surveying and civil engineering services throughout the transaction.
