Experts: New company for GE site may be hard to find
Experts say finding a new company for the General Electric site in Fairfield may be next to impossible. GE announced yesterday that it was moving its corporate headquarters to Boston. Its current
•
Jan 15, 2016, 2:21 AM
•
Updated 3,268 days ago
Share:
Experts say finding a new company for the General Electric site in Fairfield may be next to impossible.
GE announced yesterday that it was moving its corporate headquarters to Boston. Its current 85-acre campus is four decades old and in the suburbs of Fairfield.
ValueInsured CEO Joe Melendez researches corporate real estate and says massive, suburban office parks are an extremely tough sell.
"It's going to be a tough piece of property to find somebody to occupy," says Melendez. "It's competing against Stamford, which has a significant amount of space available - brand-new buildings."
GE can either sell the campus or the company can give it away to a nonprofit group. GE would get a tax credit for donating it, and some experts believe that is the most-likely outcome.
More from News 12
0:19
Christmas Eve fire displaces 8 people and 10 dogs
2:21
Cold continues but a warm up is on the way!
0:48
Bridgeport's East End community helps families displaced by fire
2:13
Bridgeport's Trumbull Gardens gets $1.5 million to expand community & athletic centers
0:51
‘Charlotte’s Gift’: Westport community raises $30K for local cashier
0:43
