IREM CT sponsors property tour of Long Wharf Maritime Center
On January 16 the Long Wharf Maritime Center, Building I located at 555 Long Wharf Drive in New Haven, was featured in a property tour organized by the IREM Connecticut Chapter #51 and sponsored by Fusco Management Company, LLC. Building I at the Long Wharf Maritime Center is a fourteen floor, 416,000 s/f class A office building owned by Fusco Harbour Associates, LLC. Located near the junction of Interstates 91 and 95 on the New Haven Harbor with direct views of the Long Island Sound, the complex provides numerous on-site amenities that include a fitness center, free covered parking for tenants, valet service, shuttle to Metro North, Shoreline East and downtown New Haven, 24/7 card access and security guard service, two dining facilities, a day care center and tenant shared conference room.
Property professionals and commercial real estate brokers participated in the IREM event which involved a cocktail reception, a leasing presentation and ultimately a tour of 80,000 s/f of soon to be available class A office space consisting of 2 full floors with interconnecting staircases. Attendees also got a chance to view Covidien's new headquarters located at 555 Long Wharf Dr. The leasing presentation was presented by Kathleen Williams, director of leasing for Fusco Management Company, LLC. On hand, as Leasing Agents for the 80,000 s/f space, were Christopher Ostop, Sean O'Neil and Lauren Carr of Jones Lang LaSalle. The property showed very well and all involved had an enjoyable experience touring one of the finest class A buildings in the New Haven market.
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary