The Connecticut Chapter of the Society of Industrial and Office Realtors (SIOR) recently met at The Saltwater Grill for its quarterly meeting. Two new members were welcomed to the Chapter; Larry Levere of Sentry Commercial and Tom Pajolek of CBRE. Although acknowledging current economic conditions, many members are positive regarding the remainder of the year and the future. Many of the members have decades of experience and have experienced multiple real estate cycles. Previous down cycles have proven to have been periods of opportunity for astute investors and this one should be no different.
After chapter business was finished 30 SIOR members and guests from all areas of Connecticut adjourned for networking, friendship, cocktails and hors d'oeuvres prior to dinner.
The guest speaker was Dean Shapiro who recently joined Building and Land Technology. He presented the membership with an overview of the Harbor Point mixed-use waterfront development on over 80 acres in the south end of Stamford. The multi billion dollar project will dramatically change the area. The four-phase, 10-year project will include 4,000 new housing units totaling 5.1 million s/f, 400,000 s/f of retail and restaurant space and three Class A office buildings totaling 800,000 s/f. The development will also include several amenities including immediate access to the Stamford Train Station, hotels, marina slips and 11 acres of parks with a waterfront promenade.
This is a long term development and ground has been broken on the project with a retail tenant pre-leasing commitment. Fairway Market of New York has committed to a 55,000 s/f supermarket which would anchor the development. BLT is committed to this project and they are moving ahead with construction even in this difficult economic environment. According to Shapiro, this is the largest project of its kind in the country and the entire BLT team is passionate about making Harbor Point a world class commercial development and a true asset to the entire state of Connecticut.
Please visit our website www.siorct.com to find additional information on the Connecticut/Western Massachusetts Chapter, Chapter members, and upcoming events. Should you have any questions or interest in the requirements and benefits of becoming an SIOR and joining the Connecticut/Western Massachusetts Chapter, please contact Sherri Thompson, SIOR at 860.528.0884 or John Reed, SIOR at 860.987.4788.