Dot-Coms Can Still Fill Your Space

NEW YORK CITY-NACORE’s monthly luncheon meeting broke up minutes ago, and attendees learned from a panel of experts that dot-coms–if handled properly–can still be a vibrant target tenant. For starts, said Arthur R. Stern, CEO of Cogswell Realty Group, no one should scratch technology off their list completely. “Regardless of the form technology takes,” he told the capacity crowd at the Yale Club, “it’s here to stay. The trick is simply to find out how it fits into your real estate.”

It fits snugly into the portfolio of Lynne M. Ward EVP of i.park Holdings LLC, who told the crowd that she banks on “anchor tenants, whether they are technology-based or not,” as a safety net. “This way we avoid running into the question of what is going to happen tomorrow.”

Ward warned, however, that the sector demands a strong marketing team. “It’s two different languages,” she stated. “And you’ll need a team that includes telecom and back office people as well as a large legal effort.” She noted that for the i.park project her firm worked on in Lake Success, NY, “we employed nearly the entire legal profession of Long Island.” Paul Darrah Jr. of Bloomberg Financial News was also a panelist.