ORANGE, CONN. — Orange-based Fischer Real Estate has brokered a 40-year ground lease for 22 acres located at the interchange of Interstate 95 and Marsh Hill Road in Orange. The tenant, United Illuminating Co., plans to construct a new 140,000-square-foot corporate headquarters on the site. Alan Fischer of Fischer Real Estate represented the landlord, the Foyer family, while Les Cranmer of the Philadelphia office of Studley represented United Illuminating. In addition to the initial 40-year term, the lease contains a 40-year extension option, as well as a limited-condition purchase option. United Illuminating recently purchased the 34-acre former Showcase Cinema site located adjacent to the 22-acre parcel. Both sites will be used to consolidate the company’s operations.
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