Timex Sells Middlebury HQ For $7.5 Million: Report

MIDDLEBURY, CT — The Timex Group has sold its Middlebury headquarters for $7.5 to a pair of real estate investment companies seeking to build a distribution center, The Connecticut Post reported. The sale of the property leaves the company's future in the state uncertain.

The watch maker sold its 85,000-square-foot home at 555 Christian Road to Drubner Equities and Atlantic Management last month.

About 150 employees work at the 93-acre property, which has served as company headquarters since 2001. A real estate company representative said Timex will seek to relocate those workers to other locations in the state.

Read the full story at The Connecticut Post.

Timex has a long history in Connecticut. In 1854, the company was founded as the Waterbury Clock Company.

The company details its Connecticut history on its website: "While Waterbury boomed with brass, we added American ingenuity to European clockmaking. The result was mass production 40 years before the Model T and a $6 clock almost everyone could afford."

By 1901, the company was producing the Yankee pocket watch, which cost $1. Then in 1914, the company introduced the wristwatch.

The factory site in Waterbury is listed in the National Register of Historic Places.