[JayCT]

As I thought, they are moving to Shelton. Jay

https://www.ctinsider.com/business/a...n-17261484.php

[kidyankee764]

Originally Posted by SteveM85

Lo and behold, I gave up and Googled it

"In general, mortgage rates increase 12.5 basis points (0.125%) for every 15 days you add to your rate lock, up to 90 days. Beyond 90 days, expect to pay higher rates and a non-refundable, upfront fee. This fee is why very few people execute rate locks for longer than 90 days"

I think you posted this in the wrong thread, but yeah, rate locks are very common.

[BobNJ1960]

Originally Posted by JayCT

As I thought, they are moving to Shelton. Jay

https://www.ctinsider.com/business/a...n-17261484.php

I am hoping, if there is a Ct economic deal, the Shelton square footage plus starting headcount is released. Also interested in lease length, plus length Ct incentive deal.

[synchem]

Was their previous building paid off and fully depreciated? Now they can get some new tax write-offs right?

[Johnho771]

Originally Posted by ravishankeruk83

I love CT for several reasons - 4 proper seasons, proximity to major cities and beautiful New England towns, the strong school system. I think this state is beautiful. But the economy - I am not so sure. A close friend moved to Johns Creek in Atlanta and below are some valid observations -

Sold home in Avon, CT and bought a larger & newer home for the same price in Johns Creek, Atlanta (650k)

Saves $800 per month in Property Taxes ($9600 a year!)

No taxes on his cars and saves another $1000 a year.

Job opportunities in the tech sector in CT isn't close to Atlanta. Just a random search on Indeed proves the point, 14 openings in CT vs 87 in Atlanta for a fairly common skillset.

He bought his house in CT in 2011 for 460 k, pricing was stagnant until the pandemic boom. Meanwhile, his Atlanta home he bought for 650k was sold 290k in 2013 - Clearly showcasing higher and steady price appreciation.

CT has its charm. But clearly, there are big problems here and I don't see it changing anytime soon.

I think real estate values are a problem for CT and a reflection of the greater state economy as a whole. I live in the area, and while like much of the state, the area has seen a recent bump in real estate values, but still seems to be struggling to recover previous highs like around in 2007. As you mentioned values seem relatively stagnant for a lot of home when looking over 10 or 15 years.

Meanwhile other areas seem to have seen exceptional growth in RE value. And it's not just south of us. I look towards my home town in southern New Hampshire, where values there and surrounding towns over the past 10 to 15 years have seemed to have gone up 50 to 100%. Comparing similar sized towns, there seems to be a lot less inventory there too.

This leads me to worry about the desirability of CT.

[SteveM85]

Originally Posted by Johnho771

I think real estate values are a problem for CT and a reflection of the greater state economy as a whole. I live in the area, and while like much of the state, the area has seen a recent bump in real estate values, but still seems to be struggling to recover previous highs like around in 2007. As you mentioned values seem relatively stagnant for a lot of home when looking over 10 or 15 years.

Meanwhile other areas seem to have seen exceptional growth in RE value. And it's not just south of us. I look towards my home town in southern New Hampshire, where values there and surrounding towns over the past 10 to 15 years have seemed to have gone up 50 to 100%. Comparing similar sized towns, there seems to be a lot less inventory there too.

This leads me to worry about the desirability of CT.

200-300K+ increases in value in just two years is more than just a bump. More like a mound.

[JayCT]

Originally Posted by synchem

Was their previous building paid off and fully depreciated? Now they can get some new tax write-offs right?

I’m not an accountant but if they lease space, which I believe they will, that can be written off. Jay

[Stylo]

Originally Posted by JayCT

As I thought, they are moving to Shelton. Jay

https://www.ctinsider.com/business/a...n-17261484.php

I'd bet the farm the square footage will be greatly reduced from the old HQ.

[BobNJ1960]

Originally Posted by Stylo

I'd bet the farm the square footage will be greatly reduced from the old HQ.

No doubt. The headcount is way down!

[Stepfordct]

Subway is moving to 1 Corporate Dr. 90k sq ft.

325 Subway Dr was built new for Subway around 1990. Other buildings they bought or leased around there as they grew.
Fred Deluca also had bought other buildings nearby as investments.