The 7th annual SiteFinder Showcase brought together economic development professionals as well as commercial real estate professionals to engage in a half-day of discussion about the emerging roll of technology in commercial real estate. Keynote speaker, Herb Hauser, president of Midtown Technologies, LLC, the real estate industry's foremost provider of revenue-enhancing technology infrastructure and application solutions, has consulted on major projects across the country including but not limited to, The Plaza Hotel & Residences, the Brooklyn Navy Yard, Ernst & Young world headquarters in Times Square and the Comcast Center in Philadelphia.
Hauser enlightened audiences to the reasons that organizations decide to use advanced technology and efficient energy systems to go green. The main reasons are, it makes good marketing sense, it is less expensive, and tax credits are available. Interestingly, the reasons why organizations choose not to employ new technology or become green, include organization officials believing that the green epidemic is a "passing fad," it doesn't really help the environment, and it is more expensive than the alternative. He concluded that some organizations wait until it is part of the building code while others ask, "Is it the right thing to do for our organization?"
The event included a new broker panel which provided an overview of the commercial real estate activity in the region. Overall, the brokers agreed on the fact that the commercial real estate market has slowed, but it is not dead nor dire, with certain areas such as lower Fairfield County not experiencing as much of a slowdown as other counties due to the proximity to Manhattan. In addition to the panel, other presenters included Connecticut's Business Advocate, Rob Simmons, who discussed challenges that businesses are facing today and how the business community could and should work together to make changes in the legislature that meet their needs. A regular feature of the showcase, Dennis Shea, publisher of Area Development Magazine, reviewed their 22nd annual Corporate Real Estate Survey Results. The last feature of the showcase was an overview of CERC SiteFinder and EDDI, provided by Melissa Pasquale, director of real estate at CERC.
More than 100 attendees participated in the event held at The Farms County Club in Wallingford, followed by an optional golf outing. The 7th annual showcase was received well by attendees, and was made possible with help from sponsors such as, Fast Facility/Area Development Magazine, New England Real Estate Journal, Northeast Utility Systems - CL&P, Yankee Gas, AT&T, CB Richard Ellis - N.E., Griffin Land, The United Illuminating Company, Bradley Development League, Fuss & O'Neill, Inc., Housatonic Industrial Development Corporation, New Haven CID, Acorn Group, Colliers Dow & Condon, Northeast Property Group, Sentry Commercial, and AMS Real Estate.
Since the inception of SiteFinder 11 years ago, more than 500 successes have been tracked, totally more than 18.5 million s/f leased/purchased/constructed - 56 success stories in 2007 alone, equaling more than three million s/f. Currently, there are more than 3,000 active properties listed on CTSiteFinder.com from member firms and municipalities.