October brings movement in business with the shift in weather
Change... This time of the year is all about change and in the recent weeks I have heard that word used several times in multiple ways both in personal lives and in business. October not only brings a shift in weather with cooler air and fall colors but movement in business as well. From updating property budgets, planning for the unknown winter, considering future upgrades, etc. Embrace change, however it may come and steer its direction as the experiences permit us to grow on many levels. Autumn is that amazing season that allows certain things to end in order for new ventures to begin.
It's only fitting that on October 23rd at the Stamford Marriott, BOMA Southern Connecticut celebrates what change brings. In our industry it comes in the form of the annual TOBY Awards, honoring those individuals, companies, and their properties that shine bright. They continued adapting to, and even created, change in a time where the economy is only slowly getting better but is hopeful to keep moving in the right direction. Congratulations to all the award winners and honorees!
The Outstanding Building of the Year Award Winners:
* 19 Old Kings Highway South - Under 100,000 s/f category
* 600 Steamboat Road - 100,000-249,999 s/f category
* Stamford Square - 250,000-499,999 s/f category
* The Towers-Norwalk, CT - Suburban Office Park-Mid Rise category
* 800 Long Ridge Road - Corporate Facility category
* Graham Capital Management - Historical Building category
* AQR Capital Management Greenwich Plaza, Inc. - Best Tenant Fit-Out
* Michelle Savino, CBRE - Member of the Year
* Cartus - Corporation of the Year
* Keith Crosby, Crosby Construction, LLC - Allied of the Year
* Frank Pfaffenberger, DTZ a UGL Co. General Reinsurance Corp. - Engineer of the Year
* John O'Connor, RFR Realty LLC - Lifetime Engineer Achievement Award.
Victor DeCicco is the president of BOMA Southern Connecticut, and is with HB Nitkin Group, Greenwich, Conn.
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