U. K.’ s Wren Kitchens opens first U. S. location
STAMFORD — Global specialty insurer Ascot Group has leased 24,000 square feet in the downtown office building at 200 Elm St., a deal that offers a vital boost to southwestern Connecticut’s office market.
The property’s landlord, Building and Land Technology, made the announcement last week.
The southwestern corner of the state has seen a significant decline in office leasing activity during the coronavirus crisis, although its vacancy rate has not spiked. The transaction came about two months after another major insurer, Berkley Insurance Co., announced that it would relocate within the downtown and lease about 63,000 square feet in the Metro Center complex at 1 Station Place.
“Connecticut creates a thriving environment for growth companies like Ascot, affording us the opportunity to take advantage of a tremendous talent pool, coupled with convenient access to New York, and Stamford’s dynamic business community — particularly within the insurance and reinsurance industry,” Yvonne Costello, Ascot’s chief operating officer, said in a statement. “We are excited to begin this new phase of our journey in Stamford.”
In response to an inquiry from Hearst Connecticut Media, an Ascot company spokesperson said, “While we have already opened the office, we maintain a limited presence due to COVID, with most employees unlikely to formally attend until a date to be determined in 2021. We look forward to returning in force to this exciting new office in Stamford, with expectations of growing our employee base in the coming months.”
Ascot is owned by CPP Investments, a global investment management firm that invests the assets of the Canada Pension Plan. CPP Investments is the largest pension plan in Canada.
In the U. S., Ascot also has
MILFORD — Wren Kitchens has landed in America. The 10- year- old United Kingdom kitchen retailer has just opened its first store in the United States — and it’s right in Milford at 1522- 1524 Boston Post Road.
The Milford store marks the retailer’s 100th location, and, at 30,000 square feet of showroom, it’s the largest of all Wren Kitchens’ stores anywhere in the world. The Milford store is in the location of the former
Babies- R- Us.
“We’ve invested over $ 3 million in our new showroom here,” said manager David
DeCicco, adding the business also has opened a new factory in Pennsylvania.
According to
DeCicco, Connecticut was chosen as
Wren’s first U. S. location because of long- standing roots founder Malcolm Healey has to the state.
“He owned a home in Connecticut,” DeCicco said.
Connecticut is also appealing because the amount of renovation activity in the state has been high, DeCicco said.
“For many years, we were losing residents, but we have a lot of remodelers,” he said. “People in Connecticut like to upgrade the home that they stay in. Others are building apartment complexes or condominiums.”
There also is a big house- flipping industry in the state. Flipping is when one purchases a rundown, outdated home, and updates it with the goal of selling it and making a profit.
Additionally, due to the effects of the coronavirus pandemic, DeCicco said people are now moving back to the state.
“Often, ( people are moving) up from New York City, we’re seeing a lot of new homeownership,” he said.
Kitchen remodeling is a frequent upgrade to new homeowners because that is where they tend to spend the most time, DeCicco said.
“The kitchen is the heart of the home. It’s where the entire family can sit and experience each other while eating, while doing homework, while having a cocktail, while diving into ice cream,” he said.
Wren’s showrooms have 100 full- size sample kitchens and offer a virtual reality room where shoppers can see their dream kitchen in three dimensions through a headset. They
“The kitchen is the heart of the home. It’s where the entire family can sit and experience each other while eating, while doing homework, while having a cocktail, while diving into ice cream.”
David DeCicco, Wren Kitchens manager