Company of the Month: Saugatuck Commercial Real Estate is a boutique firm committed to personal service

Penny Wickey, Saugatuck Commercial Real Estate

Westport, CT In 2004, building on a decade of international banking and real estate experience, favorable market conditions and entrepreneurial tolerance for risk, Penny Wickey formed her own company – Saugatuck Commercial Real Estate (SCRE). Over the past 13 years, Wickey has grown SCRE into one of the preeminent boutique real estate firms in New England through market expertise for landlords and successful tenant representations, structuring of complex real estate buy/sell transactions and providing customized market research and financial analysis.   

Reach – SCRE is based in Westport, Connecticut, and is licensed in Conn., N.Y., Mass., Rhode Island, N.H. and Florida.  SCRE is an active member of ICSC (International Council of Shopping Centers) and REFA (Real Estate Finances Associations).  Wickey is a frequent speaker and panelist for these and other professional organizations.  SCRE has been certified by WBENC (Women’s Business Enterprise National Council).  SCRE has six licensed brokers and a broad marketing support team.

Rendering of 665 Commerce Drive - Fairfield, CT

Tenant and landlord representation – A key driver of SCRE’s success is based on the breadth of the clients served. SCRE recently completed two portfolio sales to national REITs with a combine value of $130 million.  SCRE provides leasing services to high profile shopping centers and key urban and suburban areas throughout New England. SCRE has proudly represented regional and national tenants with established brand recognition across industries, identifying and successfully negotiating dozens of location leases for this diverse group of clients.  These include financial service firms such as Wells Fargo and Charles Schwab; national operations such as CVS; food and restaurants concepts including Cumberland Farms, Moe’s Southwest Grill, Jersey Mikes, Zinberger, and Kilwins Chocolates; personal fitness companies ranging from Barry’s Bootcamp, to Pure Barre and Vertical Addiction; life style concepts such as iPic, Hand and Stone and the Shade Store. 

Couple the roster of tenant representations with SCRE’s multi-state landlord leasing assignments and the firm is able to provide continued current market experience and intelligence, which translates to success for its clients.

This expertise and performance also translates to another key group of SCRE clients – entrepreneurs and local and regional businesses expanding operations in the New England market. These clients do not have the in-house real estate skills to search, find and structure lease and/or purchase transactions.  SCRE takes seriously the role of  “outside – inside” real estate department for these start up and smaller successful businesses.

SCRE’s product offerings to all these sectors is the foundation of our ability to deliver results.

108 Danbury Road - Ridgefield, CT

180 Post Road East - Westport, CT

Rendering of 885 Washington Boulevard - Stamford, CT

Product offerings – For the range of their clients, SCRE provides a comprehensive spectrum of services:

• Analytics - demographic studies, void analyses, site requirements, parking plans, locator maps, traffic patterns, competitive and market analyses.

• Education - rental rate studies, co-tenancy opportunities, market tours.

• Development tools – preliminary concept/site plans, leasing and sale strategies and transaction documents, zoning regulations, rollout plans.

• Marketing – targeted leasing/sale campaigns across the Internet, social media and print formats.

• Negotiation – town meeting presentations, prepare and finalize letters of intent, referrals of industry experts.

1000 Lafayette Boulevard - Bridgeport, CT

Real estate buy/sell transactions – SCRE operates across the size continuum from the sale of smaller assets to local investors to significant, multi-million dollar, low-cap rate off-market and publicly announced transactions to national REITS.  SCRE services for these transactions include the preparation of offering memoranda, financial and market analysis, presentation of appropriate third-party reports, and onsite review of the physical assets.

A graduate of Smith College and an MBA from the SC Johnson School of Management at Cornell, Wickey has delivered a significant record of performance through more than two decades of experience, a skilled and diverse in-house team, deep bench of clients and broad industry networks – all building and reinforcing each other to provide success. The company focus continues to be on its clients and assuring their success. 

SCRE welcomes the opportunity to serve a whole new group of clients.  SCRE is committed to personal service.