We have had so much bad economic news in Connecticut recently--and well-deserved, as we definitely made bad choices over many years--that we have forgotten one basic tenet of real estate: It comes down to location, location, location. Although businesses are up in arms all over the State, and many are leaving or considering doing so, they may be discounting the location we have here.
One of our agents believes that, in the future, Connecticut's commercial sector will all be about distribution. I think that could well be true. As New York and Boston soar to greater and greater heights, and lure young people from all over the country to settle in those two areas, here we sit--right between the two cities. While we certainly have not invested in infrastructure in the way we should have, we still have a proximate location that will make our land and buildings valuable for distributing goods. As one of the articles I read recently pointed out, whatever you can do with planes and ships, you need roads and trucks for at least the last few miles of any delivery.
So, while factories and malls may be repurposed over time, there will always, in our lifetimes, be a need for space in Southern New England, and that's what we have. Before others figure that out, and bid up the prices, those of us already here should take a second look at what is available. It may be that location trumps all those bad decisions. Let's hope so.