Sentry Commercial Blog

A bit of good news.

Posted By: Mark Duclos on 11/29/2011 — 11/29/2011

In a world where the cost of everything just seems to be going up and up, along comes the news that our electric rates are actually going down! Yes, DOWN! In case you missed it, Connecticut's overall rates have dropped from about 18 cents per kilowatt hour to approximately 16 cents. We can no longer boast that we have the second highest energy rates in the country because we have dropped to fourth! Good news at a time that we all need good news.

On another positive front...don't look now but things are starting to turn a bit in the CRE world. The uptick in hiring has had a slight positive effect on the overall markets here in Connecticut and Western MA. I'll have more on that in my next blog.

See attached Hartford Business Journal article re: electricity costs: CT falls to fourth most expensive

Keep smiling! (and enjoy the holiday season)

Mark

Adaptive re-use - Clairol, Stamford

Posted By: Mark Duclos on 1/21/2012 — 1/21/2012

Quick congrats due. Went to the REFA-Stamford presentation on Adaptive Re-Use (Stamford Marriott - January 17th). Nice presentation on the conversion of the former Clairol facility on Blachley Road in Stamford CT. For those of you who aren't aware of what is going on there, the facility has two major tenants...Chelsea Piers and NBC Sports. And while a lot of us have heard about the NBC Sports deal (part of Governor Malloy's "First Five" program), a number of us are not aware of the Chelsea Piers project. 450,000 sf of indoor recreation. Unbelievable! Take a peek (http://www.thecampusexit9.com/index.php)! Kudos to REFA (for a nice program), Spinnaker Real Estate Partners and Steven Wise Associates (for a great redevelopment) and NBC Sports and Chelsea Piers for your commitment to the State of CT!

Don't look now, but there ARE good things starting to happen (in spite of a dysfunctional government in DC!)!!!

Keep smiling!

Mark

Industrial ports in Connecticut

Posted By: Mark Duclos on 1/21/2012 — 1/21/2012

Yes, two blogs in one day! Catching up after the holiday drag.

Did anyone catch the Malloy administration's interest in the possible expansion (creation?) of Connecticut's ports? While I am not sure you need to spend a half a million bucks on a study to see if ports are good for the state, I do believe it's very nice to see our Governor looking at the issue. You can have all of the "Hartford-New Britain" bus lines you want...but those (the bus lines) don't CHANGE how we do business. And Connecticut NEEDS to CHANGE how we do business! While Europe is struggling, it will return and so will its exports! And as the article says, they're reconstructing the Panama Canal. The new Panama Canal will handle bigger fleets and route more traffic to the middle and eastern parts of the country. Connecticut and New England should be ready to benefit.

See attached Hartford Courant article: Study of Industrial Ports

Keep smiling!

Mark

Manufacturing coming back to the US?

Posted By: Mark Duclos on 1/22/2012 — 1/22/2012

Lately there have been a number of articles about the return of manufacturing to the United States. The reasons vary...from off-shore labor costs increases to increased productivity here in the US. From difficulty in off-shore quality control to reduced energy costs here in the US. Whatever the reason, this return to the US has been happening for a couple of years and appears to be gaining momentum. That's good news for the United States. For Southern New England? The jury is out. While Southern New England has been a benefactor (I just recently completed two significant transactions with clients who are sending less business to China) it might see limited benefits (as compared to other parts of the country - Right to Work states will likely be the biggest beneficiaries). Southern New England continues to predominantly be an "added value", "precision", "high tech" environment. Many of these jobs never left.

Here are two recent articles on the subject:

CoStar: Is Industrial Property's Turn Next?

Worcester Telegram & Gazette: Factories Roaring Back

Keep smiling!

Mark

Brokerage industry continues to consolidate.

Posted By: Mark Duclos on 2/22/2012 — 2/22/2012

Don't look now but your brokerage and agent choices continue to shrink. Just like every industry out there, the commercial real estate brokerage industry is consolidating by the day. Yesterday Grubb & Ellis filed Chapter 11, a filing that was a long-time coming. But what wasn't known was who would pull G&E out of bankruptcy. Well it turns out their savior is BGC Partners (Cantor Fitzgerald), the parent company of Newmark Knight Frank. While it's unclear if BGC will merge the two national brands, it is very clear that the industry continues to consolidate.

See attached CoStar announcement: Grubb & Elis Files Chapter 11

Keep smiling!

Mark