2022 Year in Review: Steven King, Quonset Development Corp.

What person, project, transaction or market trend had the greatest impact on your industry this year?
In 2022 we saw a continued demand for flexible spaces for growing businesses, including existing Quonset companies and businesses looking to relocate within the Northeast. In 2022 there was 305,000 s/f of new construction at the park. Our flex industrial campus continued to grow as we completed the sixth of 10 planned buildings (250,000 s/f in total once fully built out). The campus offers affordable and customizable solutions for advanced manufacturers and businesses who need modern office suites coupled with high-bay warehouse/assembly space. Each of the six buildings range from 30,000 - 50,000 s/f, an average of 10,000 s/f per unit.

What was your most important professional accomplishment or most notable project, deal, or transaction in 2022?
In December 2022, Quonset celebrated the 13,000^th employee milestone at the park. This is an increase of 3,000 jobs since we hit the last milestone of 10,000 in 2014. Since then, Quonset has grown substantially – completing over $200 million of infrastructure upgrades, constructed over two million s/f of new buildings, and experienced $1 billion of investment by tenants.