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Deals & Deeds

Alexander Soule

Feb-05-10, 01:14 PM

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Topics: Real Estate

A San Francisco-based company has acquired a Trumbull data center and two more in Massachusetts for a combined $375 million.

Digital Realty Trust Inc. is the new owner of 60-80 Merritt Boulevard in Trumbull.

After speculation that Avon Products Inc. was considering Fairfield County as a new headquarters location, the cosmetics company chose to remain in Manhattan, relocating to 777 Third Ave. from its current location at 1251 Avenue of the Americas.

Johnston Asset Management Corp. is taking a lease in May for 5,000 square feet of space at One Landmark Square in Stamford, relocating its headquarters across downtown from 300 Atlantic St.
The building is owned by SL Green Realty Corp.; Johnston Asset Management’s broker was FirstService Williams.
Richard Johnston founded the company in 1985, and today it has $1.5 billion in assets under management.

RE/MAX of New England franchisors will open real estate agencies inside Stop & Shop Supermarket stores, though just one in Connecticut initially in North Haven.

The companies said it is the first such instance of a real estate agency operating inside a major retail chain. Stop & Shop has a similar arrangement with Bridgeport-based People’s United Financial Inc., which runs retail banks in Stop & Shop stores in Connecticut.

“The true upside of these RE/MAX franchises is that a broker will have a smaller and more economical office, at a lower initial investment, and the consumer will have the one stop shopping experience they are looking for,” said Jay Hummer, executive vice president of RE/MAX of New England, in a prepared statement. “These turnkey operations are offered at a lower cost, are in high traffic areas of the store and provide a face to face opportunity with the consumer. We believe many teams are going to jump on this opportunity to grow their business.”

Iconic upstate New York restaurant Dinosaur Bar-B-Que reportedly has contacted brokers to scout expansion sites in Connecticut, Westchester County, N.Y. and New York City.

The restaurant has a rabid patronage in Rochester and Syracuse where it was founded, and in Harlem. Multiple news reports in New York City cited real estate brokers saying the company is looking at more than a half-dozen other areas in the Northeast, seeking buildings “with character.”

Financier George Soros bought a 70 percent stake in the company in 2008, and Dinosaur Bar-B-Que is currently preparing to open a fourth restaurant in Troy, N.Y. The Syracuse Post-Standard reported the company’s owner confirmed he has been in contact with brokers but downplayed any immediate expansion plans.

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