Commercial Plaza in the works!

[Preetinder Singh]

Hi everyone, so for about a year and a half now I have been in talks with the city of Hartford in my state of Connecticut, i’m developing a commercial two-story building on my property. I have begun to get the A2 survey, Site plan and ZBA application to be filled out as soon as I can. Local neighborhood committees and groups are also in support of me developing and bringing in more growth to our lovely neighborhood here in Hartford. But they have also recommended me in finding tenants as soon as I can even before I have started construction on the building. This leaves me into wondering what I can do as for bringing in new clientele as well As new businesses. So far I have collected ideas from the local groups and also local neighborhood friends that have told me a Starbucks, florist or even a potential doctors office on the second floor would be ideal. But the only issue is neither of any of those ideas could work because I have dug deep and find out how each franchise/business is not up to par and moving their brand into this part of the city. I am kind of out of ideas as to where and whom I can reach for bringing their business into a part of the building. I am going to keep working hard into finding out what will best work in the city of Hartford. But I would love to hear back from the bigger pockets family! Thank you!

[Greg Dickerson]

Originally posted by @Preetinder Singh:

Hi everyone, so for about a year and a half now I have been in talks with the city of Hartford in my state of Connecticut, i’m developing a commercial two-story building on my property. I have begun to get the A2 survey, Site plan and ZBA application to be filled out as soon as I can. Local neighborhood committees and groups are also in support of me developing and bringing in more growth to our lovely neighborhood here in Hartford. But they have also recommended me in finding tenants as soon as I can even before I have started construction on the building. This leaves me into wondering what I can do as for bringing in new clientele as well As new businesses. So far I have collected ideas from the local groups and also local neighborhood friends that have told me a Starbucks, florist or even a potential doctors office on the second floor would be ideal. But the only issue is neither of any of those ideas could work because I have dug deep and find out how each franchise/business is not up to par and moving their brand into this part of the city. I am kind of out of ideas as to where and whom I can reach for bringing their business into a part of the building. I am going to keep working hard into finding out what will best work in the city of Hartford. But I would love to hear back from the bigger pockets family! Thank you!

Best bet would be to talk to some local commercial real estate brokers that specialize in retail and office leasing.They will be the ones in the know.

That being said I like urgent care, medical, dental, eye dr, chiropractor etc they always make good long term retail/office flex tenants.

[Shirley R.]

May I ask where exactly in Hartford? Different neighborhoods have different vibes and needs...

[Preetinder Singh]

Thank you Greg I will try to reach out to some! And Shirley I’m located on the corner of Homestead ave and Woodland st. The liquor store is also mine. 

[Lien Vuong]

You can start soliciting local business within a 15 mile radius and seeing if you'd like to expand on their locations. While a large chain such as Starbucks is great, they have very strict parameters as to the space they're going to occupy so I would start with some grassroots strategies first. 

@Greg Dickerson pointed you to the right professional for this specific kind of work which is a commercial lease agent. It's not really your expertise to be able to know how to valuate your space and to market to the right clientele while it's their entire career focus. We all have our core competencies right? 
Best of luck!

[Scott Hollister]

@Preetinder Singh have you spoke to the local economic development yet? Usually they have a pretty good idea on businesses that want to come to town. 

The bigger players like Starbucks have very specific needs, like analyzing traffic patterns, local businesses, etc. I think they have over 20 people on their real estate/analytical team. My best advice is to reach out to local brokers that specialize in retail placement in that area of Hartford. Stephanie at Regions Commerical is a great person to know, not sure if she specializes there but I think she may know who. 

I can mention it at our next Commercial meeting, I am on the CT Commercial Alliance committee for GHAR. Shoot me a PM with the details. 

[Michael Doherty]

@Preetinder Singh Hi Preetinder- congrats on the development deal, awesome stuff! I work with local investors in Hartford County on the commercial side to help place retail clients. Let me know if I can be of any help or resource. 

[Carlos Velasquez]

@Preetinder Singh, I know a broker owner of a real state firm that may point you into the right direction. Please send me a pm if your interested.