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Land Resources / News / Connecticut

Orange closes deal with Hubbell now owns 376 acres

Source: MenaFN.com
October 17, 2011
The town has $7.1 million to Hubbell Inc. for 376 acres.

Jim Biggart, vice president and treasurer of Hubbell, and First Selectman James Zeoli said Monday that the closing was Friday.

"Hubbell is pleased that we were able to reach agreement with the town of Orange and complete the closing for the sale of 376 acres of land to the town,"Biggart said. "This is a good result for Hubbell as well as the town. Hubbell sold the land to the town for $7.1 million, a discount of over $2 million to its appraised value of $9.2 million."

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