Fairfield on the Right Track

Off Track

A plan to put in a new high-speed rail line through Fairfield County was met with opposition by the leaders of the local communities affected. Stamford’s mayor favors improvements to the Metro-North line instead of building a new track and said the new plan would have a negative impact on the area. For more information see: http://www.stamfordadvocate.com/local/article/Leaders-to-discuss-Northeast-high-speed-rail-plan-11819941.php

Cold Canadian Cash

A Canadian based real estate investment firm acquired 14 apartment buildings in Bridgeport worth $30.5 million. The firm plans to spend over $2 million in improvements and upgrades. For more information see: http://www.ctpost.com/business/article/Bridgeport-apartments-acquired-11863536.php

Rooms Available

The Doubletree Norwalk Hotel is facing foreclosure after failing to pay on a loan since March. The hotel revenues fell six percent last year and had an occupancy rate of just 63.7 percent in May. Doubletree is owned by Hilton Worldwide which operates 500 hotels under that name. For more information see: http://www.stamfordadvocate.com/business/article/Report-Norwalk-hotel-headed-for-auction-block-11824675.php

Moving Closer

It’s official, PartnerRe, an international reinsurer, plans to open offices in Stamford next month. Over 200 employees from the Greenwich office will move to First Stamford Place in the Waterside section of the city. The Stamford Transportation Center and the city’s access to major highways were instrumental in deciding to move part of the employees who commute from New Haven, Newburgh, and Brooklyn. For more information see: http://www.stamfordadvocate.com/business/article/PartnerRe-set-for-September-move-to-Stamford-11823839.php

New Landlord

A building located at 710 Bridgeport Ave. in Shelton, has been sold for over $26 million. The site includes 452,000 square feet of office space on a 36-acre campus and is nearly three-quarters leased. Tenants include PerkinElmer Health Sciences and Panolam Industries. For more information see: http://www.stamfordadvocate.com/business/article/Shelton-building-sells-in-26M-deal-11817863.php

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