Isaac Toussie and More Observations on Conneticut Real Estate
Author: Kay Huna
Welcome back!
Commercial real estate investment in Connecticut is a good option it seems, even in this economy, Isaac Robert Toussie opines. The service sector accounts for forty percent of the state’s business activities, with trade a close second. Heavy industry and manufacturing is fairly small. Thus most commercial real estate opportunities in Connecticut will be in office and retail space. Commercial real estate in general is a better investment vehicle, especially in these economically tumultuous times, because it’s usually sheltered from the kind of speculation and outright fraud that’s often attended the residential real estate market. Values are consistent, if unexciting, but that’s a good thing these days: “flat is the new up!”
The Danbury Fair in Danbury, Connecticut, is the state’s largest shopping mall, with two levels hosting a hundred and eighty stores over one million and three hundred square feet of retail space. The oldest one, founded in 1947, is Stamford’s Ridgeway Shopping Center with three levels, forty-seven stores, and almost four hundred thousand square feet of retail space. Isaac Toussie says it has been reported that no Connecticut shopping malls top any world – or national, for that matter – lists for size or any other attribute, but thankfully none have been forced to close so far due to the economic turmoil this past year.
The history of real estate in Connecticut is one of slow but steady growth. Connecticut has never been a “hot” real estate market despite its proximity to the great metropolises of New York and Boston, but precisely because of this proximity residential and commercial realty does exist and can remain active. Indeed, despite the current economic meltdown of our day, the State of Connecticut has not witnessed any overly dramatic shifts in its real estate markets. A thankful sort of equilibrium rules, with consistent levels of inventory and stabilized prices. Connecticut commercial real estate seems to have a lot of upside potential as opposed to other states which seem like they are still in downward momentum, says Isaac Toussie.
The content of this article has been posted strictly for informational and human interest purposes only, not for advisory purposes, and should not be relied upon in any way by any person or institution. The reader should not rely on the validity of any of the information contained herein. The reader is urged to consult a variety of professionals when making business or any other significant decision, including accountants, lawyers, investment advisors, insurance companies and the like. Again, this article has been posted merely for human interest and informational purposes, not for advisory purposes.
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