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2 HARTFORDBUSINESS.COM | August 15, 2022 Biz Briefs Missouri-based fintech to acquire Glastonbury's Payrailz A Missouri-based publicly traded financial technology firm announced it has reached an agreement to acquire Glaston- bury-based digital payment company, Payrailz. Jack Henry & Associates Inc. said the purchase will expand its digital payment capabilities, including real-time person-to- person payments. Terms of the purchase agree- ment, which is expected to close Aug. 31, were not disclosed. Payrailz provides cloud-based, AI-enabled consumer and commer- cial digital payment services that enable money to be exchanged quickly. The company has been a noteworthy Greater Hartford startup with investors that have included Webster Bank. New Starbucks with walk-up window would replace Atlas Tile plaza in Wethersfield A developer has submitted plans to demolish the former Atlas Tile plaza in Wethersfield and build a new commercial site with a Starbucks drive-thru and walk-up window. If approved, the developer would demolish the existing shopping plaza at 1862-1870 Berlin Turn- pike and build a new, one-story, 8,170-square-foot shopping center in Wethersfield's Regional Commercial Zone. Built in 1967, the plaza sits on 1.5 acres and contains 14,600 square feet of commercial space between four storefronts. The plaza is currently vacant except for El Pollo Guapo restau- rant, which Town Planner Denise Bradley said is a popular local eatery. She's hopeful the owners will relocate in town. Plans call for a Starbucks coffee- house to take up 2,600 square feet of the new plaza, leaving three more tenant spaces. Starbucks would have a "typical drive-thru and interior floor plan," along with a walk-up window, Bradley said. Shelbourne Global owns the Stilts Building at 20 Church St., in downtown Hartford. PHOTO | COSTAR Amid office market struggles, downtown Hartford's Stilts Building faces foreclosure One of the major Class A downtown Hartford office towers owned by landlord Shelbourne Global Solutions is facing foreclosure, reflecting the struggles of the city's office market coming out of the pandemic. Wells Fargo Bank in June filed a foreclosure action in Hartford Superior Court against an affiliate of Shelbourne alleging the Brooklyn, New York land- lord has failed to make payments since February on a $31 million mortgage for the 420,000-square-foot-property at 20 Church St., better known as the Stilts Building. In May, after several missed mort- gage payments, fWells Fargo sent a letter to Shelbourne demanding full repayment of the mortgage's outstanding $25.7 million debt. The foreclosure process is still in the early stages and could be resolved pending negotiations between Shel- bourne and the mortgage holders. Shelbourne Managing Member Ben Schlossberg said publicly that his team has been working diligently with lenders to try to resolve the issue. He said Shelbourne is confident it can stabilize the building, which has an estimated vacancy rate of less than 20%. The proposed Starbucks in Wethersfield. PHOTO | CONTRIBUTED websterbank.com When the time is right for your business, Webster is ready to help you keep moving forward. Let's take on tomorrow, together. Adam McLaughlin, Senior Vice President 185 Asylum Street, 5th Floor Hartford, CT 06103 860.692.1398 amclaughlin@websterbank.com Webster Bank, the Webster Bank logo and the W symbol are trademarks of Webster Financial Corporation and Registered in the U.S. Patent and Trademark Office. Webster Bank, N.A. Member FDIC. © 2022 Webster Financial Corporation. All Rights Reserved.