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Fairfield real estate company looks to take over GE’s headquarters as company relocates

FAIRFIELD–Less than one week after General Electric announced its move to Boston, Fairfield-based real estate company Kleban Properties is looking to purc...
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FAIRFIELD--Less than one week after General Electric announced its move to Boston, Fairfield-based real estate company Kleban Properties is looking to purchase the headquarters.

The real estate and development company wants to bring technology-based businesses to the campus, along with an educational component.

Kleban Properties Chairman Al Kleban said he cannot elaborate much on the idea, but noted that a partnership with a Connecticut college -- possibly Fairfield University -- is key.

"That university component will help us attract the technology operations we envision," said Kleban.

Kleban Properties has $76 million in real estate value in Fairfield County, primarily in upscale shopping plazas. It is one of the biggest taxpayers to Fairfield County.

Kleban said whoever buys GE's campus needs to have Fairfield's best interests at heart.

"What is best for Fairfield?" said Kleban. "What is best for the homeowner in Fairfield? What is best for the small entrepreneur?"

Kleban said he's confident his company can replace GE's tax base and bring in even more than the 800 jobs being lost. He is hoping that many of the people losing their GE positions will find new employment with Kleban.

Kleban Properties said it has the full support of the town of Fairfield, as well as First Selectman Mike Tetreau, who met with the company last week.

"He said, 'Al, this is going to be the greatest thing that's happened to Fairfield County in 40 years,'" said Kleban.

The company is now in the process of entering into a non-disclosure agreement with General Electric. Once that is completed, they can begin negotiations.

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