When Timex Group, a company founded in the 19th century as Waterbury Clock Co. in Waterbury, Connecticut, sold its headquarters complex in nearby Middlebury in 2023, the watchmaker needed a new office location.
The company tapped Coldwell Banker Commercial Realty, the brokerage that represented Timex in the sale of its Middlebury complex, to find it a new home for workers who had been at the Middlebury office as well as its location in Norwalk, Connecticut.
Coldwell Banker Commercial Realty and Timex did just that. In June Timex took occupancy of its space at 6 Armstrong Road in Shelton, Connecticut. Timex committed to a long-term lease for more than 50,000 square feet of space at the four-story building owned by Windsor Management.
The lease meant that Timex would not leave the state where it was founded, at least for several years. The transaction won the 2025 CoStar Impact Award for lease of the year for Westchester/Southern Connecticut, as judged by a panel of real estate professionals familiar with the market.
About the deal: This is the largest lease signed in the Route 8/Shelton area since Subway relocated in 2022, according to CoStar data. The players involved in the Timex lease won a CoStar Power Broker Award as a top lease during the second quarter of last year.
What the judges said: "It's an iconic building that is accessible to both" the Connecticut and New York markets," said Tom LaPerch, an associate at brokerage Houlihan Lawrence.
They made it happen: Christopher O'Hara, senior vice president; Coldwell Banker Commercial Realty represented Timex, and Thomas O'Leary, a senior director at Cushman & Wakefield, represented the landlord.