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CLEARWATER - A complicated piece of high-tech equipment almost stood in the way of Honeywell International's plans to dispose of one of its largest buildings in Pinellas County.
The aerospace company wanted to sell off its building at the front of its campus along U.S. 19 as part of a corporate strategy to redistribute its real estate assets and divest itself of space no longer needed.
Honeywell started the process in December 1999, hiring Colliers Arnold Commercial Real Estate Services to help find a buyer. The assignment originally involved selling the more visible and valuable building.
"We subsequently discovered that Honeywell had a piece of equipment within that building that was so unique and advanced that the cost of moving it outweighed any profit they hoped to make from the sale," said Pat Marzulli, an industrial specialist with Colliers Arnold. He and colleague John Dunphy worked with Honeywell on the four-year exercise.
Honeywell decided to dispose of a larger, older...