Westchester and Fairfield County Business Journal 032519

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MARCH 25, 2019 VOL. 55, No. 12

westfaironline.com

The modern-day country club SPIEGEL LOOKS TO CREATE ‘AN EXPERIENCE’ AT CHAPPAQUA’S LIFE TIME FITNESS CLUB

Michael Spiegel, general manager of Chappaqua Life Time. Photo by Ryan Deffenbaugh.

ADAPTIVE REUSE OF UNWANTED OFFICE SPACE INTO RESIDENTIAL CONTINUES TO GROW IN FAIRFIELD COUNTY

BY RYAN DEFFENBAUGH

INSIDE PAGE

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CUOMO BLASTS TRUMP

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NEWTOWN NEWS

rdeffenbaugh@westfairinc.com

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he new Life Time athletic club in Chappaqua is a smaller, more boutique concept for the Minnesota fitness company, but it’s important to keep in mind that those terms are relative. Westchester County residents know Life Time for its massive 206,000-squarefoot brick box athletic center in Harrison, home to indoor and outdoor swimming pools and 10 tennis courts. That location dwarfs the 40,000-square-foot north-

BY KEVIN ZIMMERMAN kzimmerman@westfairinc.com

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Photos courtesy of Life Time.

ern Westchester club Life Time opened in February at Chappaqua Crossing, formerly the Reader’s Digest headquarters. But if you haven’t seen the Harrison location, or the majority of the company’s 138 fitness

centers, the new location at 480 Bedford Road certainly wouldn’t appear all that small. “We’re used to 200,000plus square feet: tennis courts, squash courts, » LIFE TIME

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ising residential demand — and a declining interest in Class B and C office buildings — is continuing to fuel a wave of adaptive repurposing and reuse in Fairfield County, according to Tom Pajolek, an executive vice president in CBRE’s Stamford office. While converting otherwise unwanted office

properties to medical use has been trending for some time now, Pajolek said the office-to-multifamily movement is still gaining steam. “When a market starts to soften, like we’re seeing here, demand obviously slackens,” Pajolek said. “Those people who are in the market tend to go for the best-in-class, Class A office buildings that are modern, well-situated and well-maintained.” When it comes to office buildings not in prime » OFFICE SPACE

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