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Xerox Corp. bought back its headquarters building at 800 Long Ridge Road in Stamford, ending speculation that the company would sell the land on which the facility is located.
Xerox spokeswoman Kara Choquette confirmed the purchase, but declined to release the sale price.
"The purchase has been made possible as a result of the company's improved financial condition," she said. "This purchase consolidates the company's ownership position and provides greater long-term flexibility. Additionally, the deal will eliminate rent and reduce the company's costs by several million dollars a year."
Xerox built the 255,000-square-foot structure and has occupied it since 1978. In 1984, the company sold the building to Stamfex Associates L.P. in New York City.
Choquette said Xerox has now repurchased the building from Stamfex Associates through a newly created subsidiary, STHQ...