NEW HAVEN, Conn.-Pirelli Armstrong Tire Corp. is looking at the possibility of selling its New Haven headquarters in favor of a smaller building. But the U.S. subsidiary of Milan, Italy-based Pirelli S.p.A. has no intention of leaving the New Haven area, a spokesman said.
Company President Giovanni Ferrario hinted during a January press briefing that the company might evaluate a move from the building after its research and development operation relocated from New Haven to Pirelli's Hanford, Calif., factory early this year.
The tire manufacturer had said moving its R*&*D operation to its plant in California would shorten the time it takes the company to bring new tires to market as well as keep new product development in line with production capability.
With that move now completed, the company hired Edward S. Gordon Co. Inc. to help determine the most cost effective option for the rest of the headquarters, which was built by the former Armstrong Rubber Co. in 1970.
Edward S. Gordon Co. is the fourth-largest commercial real estate company in the U.S.
Subleasing unused portions of the 198,000-sq.-ft. building also is a possibility, a second company spokesman said.
About 140 employees work in the building but two of its six floors currently are unoccupied.
An asking price for the building has yet to be determined.