News: Connecticut

Property of the Month: Standard Builders selected to build 312,000 s/f Tanger Outlets at Foxwoods

Standard Builders has been selected to build the premier Tanger Outlets at Foxwoods, scheduled to begin construction before the end of this year. The first outlet center to be attached to a casino floor, it will feature 85 luxury outlet stores, many which already have a presence at either Tanger's outlet mall in Westbrook or Clinton. The shopping experience is expected to be open for holiday shopping in 2014 or by the following spring, according to Steven Tanger, Tanger president and CEO. The outlet mall will focus on luxury brands, hoping to become a global destination, linking the MGM Grand Hotel to the Grand Pequot Hotel on the site. It all started with Foxwoods' 20th anniversary celebration last spring with the announcement to build a new, 312,000 s/f, stand-alone retail experience to supplement the successful casino venue. A collaboration between Foxwoods, Mashantucket Pequot Tribal Nation and the Gordon Group, the new, Premier Outlet Mall groundbreaking on September 26 was marked by traditional dances of celebration and a "smudging" ceremony using smoke to cleanse the construction site and to pray for the safety of all construction workers. An estimated 400 construction workers will be building the mall, and eventually, 900 full and part time employees will be employed by the outlet shops. Rodney Butler, MPTN Tribal chairman, said, "We have the right partners in place to prosper." Standard Builders has partnered with Foxwoods since 2010, completing extensive renovations at the Great Cedar Hotel and currently at the Grand Pequot Tower. Founded in 1949, Standard Builders provides a sophisticated level of construction management services tailored to the needs of its clients in the commercial, institutional and healthcare market segments throughout Connecticut and Western Mass. The firm's long-term business partnerships are built through the firm's ability to solve difficult challenges with creative and cost-effective solutions that allow its clients to focus on daily business objectives without compromising project quality or safety.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Quick Hits
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

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 Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

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!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

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 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

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