NYC Investor Buys Simsbury Retail Property for $42M
A Simsbury grocery-anchored shopping center that’s currently 98 percent leased to 18 tenants has been sold for $41.85 million to PAG Investments, a New York City real estate investment firm.
New Haven Votes to Rezone Major Road for Development
New Haven’s Board of Alders voted Wednesday night to rezone a major corridor in an effort to attract infill development to an area that has otherwise been passed over by the city’s development boom.
Raymond Michaud Joins Union Savings Bank
Union Savings Bank has hired Raymond Michaud as mortgage loan originator.
Fed Leaves Low Rates Alone and Sees No Moves in Near Future
Chairman Jerome Powell made clear Wednesday that the Federal Reserve is prepared to keep its benchmark interest rate very low through at least next year – and possibly longer.
Lamont Seeks to Work With Neighboring States on Climate
Connecticut Gov. Ned Lamont said Wednesday he plans to work with his counterparts in Rhode Island, New York and New Jersey to address climate change, noting Wednesday he hopes the coalition of states can set an example for the rest of the country.
Windsor Federal, Expanding, Moves HQ
Windsor Federal Savings Bank’s administrative offices will have a new home in 2020. The organization announced it recently signed a lease agreement for 995 Day Hill Road in Windsor and aims to occupy the building by early fall, once renovations are complete.
State Sets Rental Security Deposits Interest Rate
Department of Banking Commissioner Jorge Perez has announced the interest rate for rental security deposits and select other interest rates will be 0.15 percent for 2020.
Lamont, Lawmakers Agree to Transpo Vote in January
Connecticut Gov. Ned Lamont and Democratic legislative leaders are planning to vote in early January on a proposal to upgrade the state’s infrastructure.
Report: Fairfield Must Clean Up Toxic Pile Created by Developer
The town of Fairfield must clean up a pile of fill contaminated with PCBs left over from a bribery scandal involving a local developer or face consequences, state regulators say.
Fed Could Signal No Rate Hike Through 2020
The Federal Reserve is set to leave its benchmark interest rate unchanged Wednesday and will likely signal that it expects rates to remain low well into next year despite a robust job market.
Troubled Norwich Marina Heads to Auction Block
The city of Norwich’s downtown marina is headed to auction after its owners were unable to find a buyer for two years after listing the property for $1.8 million.
Net Income, Assets Increase at Connecticut Banks in Q3
Connecticut’s FDIC-insured banks saw total assets and year-to-date net income increase in the third quarter compared to last year.
Lamont Won’t Rule Out January Vote on Transpo Bill
Gov. Ned Lamont said Monday he hopes lawmakers will vote next week on a transportation improvement plan that includes truck-only tolls, but isn’t ruling out a possible vote in January.
Institutional Investors Call for Climate Action
More than 600 institutional investors managing a whopping $37 trillion in client assets called Monday for governments to step up their efforts against climate change.
US Productivity Edges Down 0.2 Percent in Third Quarter
U.S. productivity fell in the summer, the first decline in nearly four years, underscoring the struggles companies are facing in boosting worker efficiency.
Indeed Takes 24K SF in Stamford in Q3
Job search firm Indeed continued its much-anticipated expansion in downtown Stamford in the third quarter, according to an economic development report from the city, taking 24,000 more square feet at 107 Elm St. as it plans to grow its staff to 1,700.
NBT Hires ION Bank Commercial Loan Officer for CT Expansion
NBT Bank Connecticut Regional President Andreas Kapetanopoulos announced that M. Kate Van Valkenburg has joined the bank as it moves into the Connecticut market.
Thompson Reuters Plans to Relocate Within Stamford
Thompson Reuters plans to relocate its Stamford offices after signing a 24,457-square-foot lease for new space in a prominent downtown building.
Former Fed Chair Paul Volcker Has Died
Former Federal Reserve Chairman Paul Volcker has died at age 92.
Business Economists See US Slowing but Avoiding Recession
The nation’s business economists expect U.S. economic growth to decelerate this year and next but for the economy to avoid stumbling into recession, extending a record-breaking expansion already in its 11th year.
